Freestone Grove Partners LP Buys New Holdings in NVIDIA Co. (NASDAQ:NVDA)

Freestone Grove Partners LP purchased a new position in NVIDIA Co. (NASDAQ:NVDA - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 43,159 shares of the computer hardware maker's stock, valued at approximately $5,796,000.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in NVIDIA during the 4th quarter worth about $43,515,504,000. Northern Trust Corp boosted its stake in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares during the period. Capital International Investors raised its position in NVIDIA by 34.7% during the fourth quarter. Capital International Investors now owns 62,883,868 shares of the computer hardware maker's stock valued at $8,445,182,000 after acquiring an additional 16,189,550 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in NVIDIA by 493.2% during the fourth quarter. APG Asset Management N.V. now owns 18,415,785 shares of the computer hardware maker's stock valued at $2,388,272,000 after acquiring an additional 15,311,330 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on NVDA. UBS Group lowered their price objective on NVIDIA from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. TD Cowen decreased their target price on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wedbush restated an "outperform" rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $164.84.

NVIDIA Stock Down 1.9%

Shares of NASDAQ NVDA opened at $131.80 on Thursday. The stock has a market cap of $3.22 trillion, a PE ratio of 51.87, a P/E/G ratio of 1.76 and a beta of 2.11. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $195.95. The company has a 50-day moving average of $113.31 and a 200 day moving average of $127.02.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. As a group, sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's payout ratio is currently 1.36%.

Insiders Place Their Bets

In related news, Director John Dabiri sold 2,663 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock valued at $17,133,207 in the last three months. 4.23% of the stock is currently owned by 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.

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