Perennial Advisors LLC Takes $19.23 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Perennial Advisors LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 143,187 shares of the computer hardware maker's stock, valued at approximately $19,229,000. NVIDIA comprises approximately 4.2% of Perennial Advisors LLC's investment portfolio, making the stock its 3rd largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA during the 4th quarter worth approximately $40,000. LSV Asset Management acquired a new position in NVIDIA during the fourth quarter worth approximately $54,000. Finally, Delos Wealth Advisors LLC lifted its stake in NVIDIA by 134.8% in the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock valued at $66,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director now directly owns 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares of the company's stock, valued at approximately $27,104,752.08. This represents a 19.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,257,983 shares of company stock worth $172,973,349. Corporate insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 target price (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Susquehanna restated a "positive" rating and issued a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Raymond James increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. Mizuho boosted their price target on NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 29th. Finally, TD Cowen increased their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus price target of $171.66.

NVIDIA Price Performance

Shares of NVDA traded up $1.73 during mid-day trading on Friday, reaching $141.72. 153,481,622 shares of the company's stock were exchanged, compared to its average volume of 280,663,387. 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 Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The company has a market cap of $3.46 trillion, a price-to-earnings ratio of 55.77, a PEG ratio of 1.76 and a beta of 2.12. The company has a 50-day simple moving average of $117.82 and a two-hundred day simple moving average of $126.42.

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 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 company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the previous year, the business posted $0.61 EPS. The business's quarterly revenue was up 69.2% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's payout ratio is 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.