Perennial Advisors LLC Has $15.35 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Perennial Advisors LLC lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,607 shares of the computer hardware maker’s stock after selling 1,580 shares during the quarter. NVIDIA makes up 3.1% of Perennial Advisors LLC’s portfolio, making the stock its 6th biggest position. Perennial Advisors LLC’s holdings in NVIDIA were worth $15,347,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Tacita Capital Inc purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $40,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $50,000. Finally, LSV Asset Management purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $54,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $143.83 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $3.51 trillion, a price-to-earnings ratio of 46.40, a PEG ratio of 1.28 and a beta of 2.12. The company’s 50-day moving average is $126.37 and its two-hundred day moving average is $126.69. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.29%.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director now directly owns 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,469,685 shares of company stock worth $349,669,962 in the last ninety days. 4.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Truist Financial lifted their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Barclays boosted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Morgan Stanley reissued an “overweight” rating and set a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.05.

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.