Convergence Investment Partners LLC Acquires 515 Shares of NVIDIA Co. (NASDAQ:NVDA)

Convergence Investment Partners LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,733 shares of the computer hardware maker’s stock after buying an additional 515 shares during the quarter. NVIDIA comprises about 1.5% of Convergence Investment Partners LLC’s portfolio, making the stock its 14th largest holding. Convergence Investment Partners LLC’s holdings in NVIDIA were worth $2,839,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. LFA Lugano Financial Advisors SA bought a new stake in NVIDIA during the 4th quarter valued at $28,000. Criterion Capital Advisors LLC bought a new stake in NVIDIA during the 4th quarter valued at $28,000. Your Advocates Ltd. LLP bought a new stake in NVIDIA during the 3rd quarter valued at $30,000. Trivant Custom Portfolio Group LLC raised its position in NVIDIA by 44.1% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after purchasing an additional 30 shares in the last quarter. Finally, O Brien Wealth Partners LLC raised its position in NVIDIA by 139.5% during the 4th quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock valued at $45,000 after purchasing an additional 53 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

NASDAQ:NVDA opened at $921.40 on Tuesday. NVIDIA Co. has a 12 month low of $280.46 and a 12 month high of $974.00. The stock has a 50 day moving average of $869.99 and a two-hundred day moving average of $655.88. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The firm has a market cap of $2.30 trillion, a P/E ratio of 77.17, a price-to-earnings-growth ratio of 1.27 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the business earned $0.65 EPS. NVIDIA’s quarterly revenue was up 265.3% on a year-over-year basis. On average, analysts expect that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is currently 1.34%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVDA. Susquehanna reiterated a “positive” rating and issued a $1,050.00 price target on shares of NVIDIA in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft boosted their target price on NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. Loop Capital began coverage on NVIDIA in a research note on Friday, February 16th. They set a “buy” rating and a $1,200.00 target price on the stock. CICC Research began coverage on NVIDIA in a research note on Wednesday, March 6th. They set an “outperform” rating and a $870.00 target price on the stock. Finally, HSBC boosted their target price on NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $941.55.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The disclosure for this sale can be found here. In the last three months, insiders sold 61,278 shares of company stock worth $52,689,898. Corporate insiders own 3.99% of the company’s stock.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.