Parallel Advisors LLC Has $118.21 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Parallel Advisors LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,090,608 shares of the computer hardware maker's stock after buying an additional 22,709 shares during the period. NVIDIA comprises approximately 2.5% of Parallel Advisors LLC's portfolio, making the stock its 5th biggest position. Parallel Advisors LLC's holdings in NVIDIA were worth $118,205,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Tacita Capital Inc purchased a new stake in NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the fourth quarter worth $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth $40,000. Copia Wealth Management acquired a new stake in NVIDIA during the fourth quarter valued at $50,000. Finally, LSV Asset Management acquired a new stake in NVIDIA during the fourth quarter valued at $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Performance

Shares of NVDA stock traded up $1.33 during mid-day trading on Tuesday, reaching $143.96. The stock had a trading volume of 154,969,369 shares, compared to its average volume of 273,132,656. NVIDIA Co. has a one year low of $86.62 and a one year high of $153.13. The firm has a market cap of $3.51 trillion, a PE ratio of 56.65, a P/E/G ratio of 1.76 and a beta of 2.12. The firm's 50 day simple moving average is $119.10 and its 200 day simple moving average is $126.11. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $43.09 billion. During the same period last year, the business earned $0.61 earnings per share. The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. On average, analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Analyst Ratings Changes

Several brokerages have weighed in on NVDA. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Barclays restated an "overweight" rating and issued a $170.00 price objective (up previously from $155.00) on shares of NVIDIA in a report on Thursday, May 29th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Wedbush restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Finally, KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $171.66.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. This represents a 0.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the company'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 completion of the sale, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,255,320 shares of company stock worth $172,680,419. Corporate insiders own 4.17% of the company's stock.

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.