Paradiem LLC Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Paradiem LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 16.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,182 shares of the computer hardware maker’s stock after selling 1,460 shares during the period. Paradiem LLC’s holdings in NVIDIA were worth $3,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. International Assets Investment Management LLC raised its position in NVIDIA by 54,019.5% during the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after buying an additional 16,835,703 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of NVIDIA by 1.1% in the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after acquiring an additional 2,287,471 shares during the period. California Public Employees Retirement System raised its holdings in shares of NVIDIA by 31.8% during the fourth quarter. California Public Employees Retirement System now owns 7,477,385 shares of the computer hardware maker’s stock worth $3,702,951,000 after purchasing an additional 1,805,763 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in NVIDIA during the third quarter valued at $728,543,000. Finally, Assenagon Asset Management S.A. boosted its holdings in NVIDIA by 99.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock valued at $1,037,437,000 after purchasing an additional 1,189,495 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. Sanford C. Bernstein lifted their price objective on NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Wells Fargo & Company boosted their price target on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. KeyCorp boosted their target price on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Wolfe Research raised their price target on shares of NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $941.55.

NVIDIA Stock Up 3.8 %

Shares of NASDAQ:NVDA opened at $921.40 on Tuesday. The firm has a market capitalization of $2.30 trillion, a PE ratio of 77.17, a price-to-earnings-growth ratio of 1.27 and a beta of 1.75. NVIDIA Co. has a 1 year low of $280.46 and a 1 year high of $974.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The firm’s 50-day moving average is $869.99 and its two-hundred day moving average is $655.88.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business’s quarterly revenue was up 265.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. Analysts predict that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Insider Buying and Selling

In related news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock valued at $52,689,898 in the last three months. 3.99% of the stock is owned by corporate insiders.

NVIDIA Profile

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.