Parsons Capital Management Inc. RI Sells 3,932 Shares of NVIDIA Co. (NASDAQ:NVDA)

Parsons Capital Management Inc. RI reduced its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 19.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,992 shares of the computer hardware maker's stock after selling 3,932 shares during the quarter. NVIDIA comprises about 1.0% of Parsons Capital Management Inc. RI's holdings, making the stock its 23rd biggest holding. Parsons Capital Management Inc. RI's holdings in NVIDIA were worth $14,450,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NVDA. Norwood Financial Corp bought a new position in shares of NVIDIA in the 1st quarter worth $45,000. Coston McIsaac & Partners increased its stake in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker's stock valued at $47,000 after acquiring an additional 37 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in NVIDIA during the fourth quarter valued at about $28,000. Criterion Capital Advisors LLC bought a new stake in NVIDIA during the fourth quarter worth about $28,000. Finally, Able Wealth Management LLC purchased a new position in shares of NVIDIA in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 128 shares of the company's stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares of the company's stock, valued at approximately $1,931,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Mark A. Stevens sold 5,000 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the transaction, the director now owns 1,119,583 shares of the company's stock, valued at $896,494,891.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock valued at $52,689,898 over the last three months. Corporate insiders own 3.99% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NVDA. TD Cowen raised their price objective on NVIDIA from $900.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, March 21st. Piper Sandler boosted their price objective on shares of NVIDIA from $850.00 to $1,050.00 and gave the stock an "overweight" rating in a report on Wednesday, March 20th. Argus upped their price objective on shares of NVIDIA from $850.00 to $950.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. Piper Sandler Companies lifted their target price on shares of NVIDIA to $850.00 and gave the stock an "overweight" rating in a research report on Friday, February 16th. Finally, Wells Fargo & Company upped their price target on shares of NVIDIA from $840.00 to $970.00 and gave the company an "overweight" rating in a research report on Tuesday, March 19th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $940.30.

NVIDIA Stock Up 6.2 %

Shares of NVIDIA stock traded up $51.03 during midday trading on Friday, hitting $877.35. The company had a trading volume of 54,877,793 shares, compared to its average volume of 43,852,452. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 73.48, a P/E/G ratio of 1.26 and a beta of 1.73. NVIDIA Co. has a 52-week low of $266.25 and a 52-week high of $974.00. The company has a 50 day moving average of $854.40 and a 200 day moving average of $637.76.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts' consensus estimates of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to analysts' expectations of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business's quarterly revenue was up 265.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share. On average, equities analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's payout ratio is currently 1.34%.

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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