Pacifica Partners Inc. Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Pacifica Partners Inc. grew its position in NVIDIA Co. (NASDAQ:NVDA) by 176.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,315 shares of the computer hardware maker’s stock after buying an additional 3,390 shares during the quarter. Pacifica Partners Inc.’s holdings in NVIDIA were worth $541,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its stake in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter worth $43,515,504,000. Finally, Northern Trust Corp lifted its stake in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,614,169 shares of company stock worth $366,510,238. 4.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NVDA shares. Citigroup restated a “buy” rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. Mizuho increased their price target on NVIDIA from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, May 29th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Bank of America increased their price target on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Finally, Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.66.

NVIDIA Stock Performance

Shares of NVDA stock opened at $143.96 on Wednesday. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization of $3.51 trillion, a P/E ratio of 56.65, a P/E/G ratio of 1.76 and a beta of 2.12. The company’s fifty day moving average price is $119.94 and its two-hundred day moving average price is $126.23.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. 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 1.29%.

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.