Patriot Investment Management Group Inc. Reduces Stake in NVIDIA Co. (NASDAQ:NVDA)

Patriot Investment Management Group Inc. Reduces Stake in NVIDIA Co. (NASDAQ:NVDA)


Patriot Investment Management Group Inc. trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,208 shares of the computer hardware maker’s stock after selling 1,037 shares during the period. Patriot Investment Management Group Inc.’s holdings in NVIDIA were worth $3,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Norges Bank purchased a new position in shares of NVIDIA in the 4th quarter valued at about $3,900,874,000. Moneta Group Investment Advisors LLC raised its position in shares of NVIDIA by 160,446.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after acquiring an additional 19,574,443 shares in the last quarter. Morgan Stanley raised its position in shares of NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after acquiring an additional 4,621,002 shares in the last quarter. Barclays PLC raised its position in shares of NVIDIA by 55.7% during the 2nd quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock worth $3,240,769,000 after acquiring an additional 2,740,850 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of NVIDIA by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after acquiring an additional 2,287,471 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Piper Sandler Companies raised their target price on NVIDIA to $850.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Benchmark reissued a “buy” rating and set a $1,000.00 target price on shares of NVIDIA in a research report on Wednesday, March 20th. DA Davidson lifted their price target on NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of NVIDIA in a research report on Tuesday, March 19th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $908.68.

Check Out Our Latest Stock Report on NVDA

NVIDIA Stock Performance

NASDAQ NVDA opened at $903.56 on Friday. NVIDIA Co. has a fifty-two week low of $262.20 and a fifty-two week high of $974.00. The stock has a market cap of $2.26 trillion, a price-to-earnings ratio of 75.68, a price-to-earnings-growth ratio of 1.30 and a beta of 1.73. The business has a fifty day moving average of $772.45 and a 200-day moving average of $574.01. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 265.3% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 22.45 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 annualized dividend and a yield of 0.02%. NVIDIA’s payout ratio is currently 1.34%.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 128 shares of the company’s stock in a transaction on Monday, March 25th. The stock was 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 directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $484.62, for a total value of $218,079.00. Following the completion of the transaction, the insider now directly owns 50,961 shares in the company, valued at $24,696,719.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,352 shares of company stock worth $64,853,077. 3.99% of the stock is currently owned by insiders.

About NVIDIA

(Free Report)

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.

Read More

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDAFree Report).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)



Receive News & Ratings for NVIDIA Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NVIDIA and related companies with MarketBeat.com’s FREE daily email newsletter.

Source Reference

Latest stories