Parcion Private Wealth LLC Increases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Parcion Private Wealth LLC boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,261 shares of the computer hardware maker's stock after buying an additional 15,492 shares during the quarter. NVIDIA accounts for about 2.0% of Parcion Private Wealth LLC's holdings, making the stock its 13th biggest holding. Parcion Private Wealth LLC's holdings in NVIDIA were worth $24,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after purchasing an additional 35,815 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in NVIDIA by 1.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock valued at $315,100,000 after acquiring an additional 22,929 shares in the last quarter. Highview Capital Management LLC DE raised its holdings in NVIDIA by 6.7% in the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock valued at $7,842,000 after acquiring an additional 3,653 shares in the last quarter. Hudson Value Partners LLC raised its holdings in NVIDIA by 30.7% in the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock valued at $6,805,000 after acquiring an additional 11,900 shares in the last quarter. Finally, Voisard Asset Management Group Inc. raised its holdings in NVIDIA by 1.6% in the fourth quarter. Voisard Asset Management Group Inc. now owns 6,325 shares of the computer hardware maker's stock valued at $849,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Needham & Company LLC raised their target price on shares of NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Morgan Stanley raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Bank of America raised their target price on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Finally, Rosenblatt Securities raised their target price on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $183.75.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $182.38, for a total value of $13,678,500.00. Following the sale, the chief executive officer owned 73,223,225 shares of the company's stock, valued at approximately $13,354,451,775.50. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,687,440 shares of company stock valued at $862,095,782. 4.17% of the stock is currently owned by company insiders.

NVIDIA Trading Up 0.6%

NASDAQ:NVDA opened at $183.16 on Wednesday. The company has a market capitalization of $4.47 trillion, a PE ratio of 59.08, a price-to-earnings-growth ratio of 1.60 and a beta of 2.14. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $184.48. The stock has a fifty day simple moving average of $161.55 and a 200-day simple moving average of $134.24.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. On average, equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

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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