Pallas Capital Advisors LLC Raises Stake in NVIDIA Corporation (NASDAQ:NVDA)

Pallas Capital Advisors LLC increased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 17.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 227,656 shares of the computer hardware maker's stock after acquiring an additional 33,939 shares during the quarter. NVIDIA makes up about 1.0% of Pallas Capital Advisors LLC's investment portfolio, making the stock its 11th largest position. Pallas Capital Advisors LLC's holdings in NVIDIA were worth $24,673,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the fourth quarter valued at about $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at about $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA in the 4th quarter worth approximately $40,000. Copia Wealth Management acquired a new position in NVIDIA in the 4th quarter worth approximately $50,000. Finally, LSV Asset Management acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $54,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 1.1%

NASDAQ NVDA opened at $143.83 on Monday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $153.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $126.37 and its 200-day simple moving average is $126.43. The firm has a market cap of $3.51 trillion, a PE ratio of 46.40, a P/E/G ratio of 1.27 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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 given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NVDA shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. William Blair reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Truist Financial lifted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Oppenheimer reissued an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, June 16th. Finally, Bank of America lifted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $173.05.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business's 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 completion of the transaction, the director now directly owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was 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 of the company's stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,469,685 shares of company stock valued at $349,669,962 in the last three months. 4.17% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.