Pennington Partners & CO. LLC Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Pennington Partners & CO. LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 23,495 shares of the computer hardware maker's stock, valued at approximately $3,155,000. NVIDIA comprises approximately 1.6% of Pennington Partners & CO. LLC's investment portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of NVDA. Tacita Capital Inc bought a new position in shares of NVIDIA in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA in the 4th quarter valued at $34,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the 4th quarter valued at $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the 4th quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the 4th quarter valued at $46,000. Institutional investors own 65.27% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NVDA. UBS Group reduced 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. Citigroup restated a "buy" rating on shares of NVIDIA in a research report on Wednesday, April 16th. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research report on Thursday, April 3rd. Susquehanna restated a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $164.84.

NVIDIA Stock Up 0.8%

NVDA stock opened at $132.83 on Friday. The stock's 50 day simple moving average is $113.57 and its 200 day simple moving average is $126.99. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market cap of $3.25 trillion, a P/E ratio of 52.27, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, research analysts expect that NVIDIA Co. 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 Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's dividend payout ratio is currently 1.36%.

Insiders Place Their Bets

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares of the company's stock, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock valued at $17,133,207. Corporate insiders own 4.23% of the company's stock.

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.

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