NVIDIA Co. (NASDAQ:NVDA) is Sierra Summit Advisors LLC's Largest Position

Sierra Summit Advisors LLC raised its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,705 shares of the computer hardware maker's stock after purchasing an additional 11,121 shares during the period. NVIDIA comprises about 5.9% of Sierra Summit Advisors LLC's investment portfolio, making the stock its largest position. Sierra Summit Advisors LLC's holdings in NVIDIA were worth $29,236,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NVDA. SOA Wealth Advisors LLC. increased its stake in shares of NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock valued at $14,650,000 after acquiring an additional 350 shares during the last quarter. Swedbank AB increased its position in NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock worth $4,965,526,000 after purchasing an additional 1,868,358 shares during the last quarter. Principal Financial Group Inc. raised its stake in NVIDIA by 3.7% during the third quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker's stock worth $4,326,576,000 after purchasing an additional 1,285,897 shares during the period. German American Bancorp Inc. boosted its holdings in shares of NVIDIA by 4.7% in the 3rd quarter. German American Bancorp Inc. now owns 256,257 shares of the computer hardware maker's stock valued at $31,120,000 after purchasing an additional 11,392 shares during the last quarter. Finally, John G Ullman & Associates Inc. purchased a new stake in shares of NVIDIA during the 3rd quarter valued at $208,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVDA has been the subject of several research analyst reports. Piper Sandler restated an "overweight" rating on shares of NVIDIA in a research note on Friday, April 25th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. HSBC downgraded shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. Truist Financial raised their target price on shares of NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Wedbush reiterated an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $164.96.

NVIDIA Stock Up 2.9 %

NVIDIA stock opened at $116.89 on Thursday. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $195.95. The stock has a market cap of $2.85 trillion, a price-to-earnings ratio of 46.00, a PEG ratio of 1.76 and a beta of 2.11. The company's 50-day moving average price is $110.21 and its two-hundred day moving average price is $127.73. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is 1.36%.

Insider Transactions at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on 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 sale, the director now owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 in the last 90 days. 4.23% of the stock is owned by insiders.

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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