Pilgrim Partners Asia Pte Ltd Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Pilgrim Partners Asia Pte Ltd acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,210 shares of the computer hardware maker's stock, valued at approximately $2,445,000. NVIDIA makes up approximately 2.1% of Pilgrim Partners Asia Pte Ltd's investment portfolio, making the stock its 14th biggest holding.

Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in NVIDIA in the 4th quarter valued at approximately $43,515,504,000. Clear Street Derivatives LLC bought a new stake in NVIDIA in the third quarter worth approximately $4,589,905,000. Proficio Capital Partners LLC grew its holdings in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. GQG Partners LLC grew its stake in shares of NVIDIA by 132.3% in the 4th quarter. GQG Partners LLC now owns 25,697,930 shares of the computer hardware maker's stock valued at $3,450,975,000 after buying an additional 14,636,057 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of NVIDIA by 26.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 65,827,070 shares of the computer hardware maker's stock worth $8,840,117,000 after purchasing an additional 13,571,425 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. DA Davidson cut their price target on NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Truist Financial upped their price objective on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Morgan Stanley dropped their price objective on shares of NVIDIA from $162.00 to $160.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a research report on Wednesday, March 19th. Finally, Rosenblatt Securities decreased their target price on NVIDIA from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. One equities research 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $164.96.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $113.54 on Wednesday. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $110.37 and a two-hundred day simple moving average of $127.81. The firm has a market capitalization of $2.77 trillion, a P/E ratio of 44.68, a P/E/G ratio of 1.76 and a beta of 2.11.

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

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,660 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. This represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,147 shares of company stock worth $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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