Pegasus Partners Ltd. Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

Pegasus Partners Ltd. lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 16.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,748 shares of the computer hardware maker’s stock after buying an additional 4,147 shares during the quarter. Pegasus Partners Ltd.’s holdings in NVIDIA were worth $3,491,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hoertkorn Richard Charles raised its stake in NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the last quarter. Smart Portfolios LLC grew its holdings in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 75 shares in the last quarter. Total Wealth Planning LLC raised its position in shares of NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after buying an additional 78 shares during the last quarter. Boyd Watterson Asset Management LLC OH lifted its stake in shares of NVIDIA by 0.3% during the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after buying an additional 80 shares during the period. Finally, Pavion Blue Capital LLC boosted its position in NVIDIA by 0.4% during the third quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock worth $2,629,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In related news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,391,886 shares of company stock worth $181,666,050 in the last three months. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on NVDA shares. Robert W. Baird raised their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. William Blair assumed coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Monday, November 18th. Westpark Capital lifted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Evercore ISI boosted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Up 3.7 %

NVDA stock opened at $139.67 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The stock has a market capitalization of $3.42 trillion, a P/E ratio of 54.97, a P/E/G ratio of 2.43 and a beta of 1.63. The business has a fifty day moving average price of $139.63 and a 200-day moving average price of $127.36.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. Equities analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA Company 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.