Pacific Heights Asset Management LLC Has $112.42 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Pacific Heights Asset Management LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 847.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 910,000 shares of the computer hardware maker’s stock after acquiring an additional 814,000 shares during the period. NVIDIA accounts for approximately 8.8% of Pacific Heights Asset Management LLC’s holdings, making the stock its 2nd biggest holding. Pacific Heights Asset Management LLC’s holdings in NVIDIA were worth $112,421,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NVDA. Public Employees Retirement System of Ohio boosted its position in shares of NVIDIA by 2.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,253,650 shares of the computer hardware maker’s stock valued at $620,833,000 after purchasing an additional 31,004 shares in the last quarter. O Dell Group LLC lifted its holdings in shares of NVIDIA by 10.6% during the fourth quarter. O Dell Group LLC now owns 597 shares of the computer hardware maker’s stock valued at $296,000 after purchasing an additional 57 shares during the last quarter. Aspect Partners LLC purchased a new position in NVIDIA during the fourth quarter valued at $150,000. Harbour Investments Inc. boosted its holdings in NVIDIA by 6.9% in the fourth quarter. Harbour Investments Inc. now owns 16,931 shares of the computer hardware maker’s stock worth $8,385,000 after acquiring an additional 1,086 shares in the last quarter. Finally, Oarsman Capital Inc. increased its holdings in shares of NVIDIA by 9.0% during the fourth quarter. Oarsman Capital Inc. now owns 7,777 shares of the computer hardware maker’s stock valued at $3,851,000 after acquiring an additional 642 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,356,270 shares of company stock valued at $391,787,127. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Down 0.0 %

NVDA opened at $134.80 on Friday. The company has a market capitalization of $3.31 trillion, a PE ratio of 63.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. The firm has a 50-day simple moving average of $118.54 and a two-hundred day simple moving average of $110.62. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. Analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA announced that its board has initiated a stock buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent analyst reports. Bank of America reaffirmed a “buy” rating and issued a $165.00 target price on shares of NVIDIA in a report on Thursday, September 5th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Thursday. Sanford C. Bernstein increased their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Jefferies Financial Group boosted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Wedbush restated an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.46.

NVIDIA Company 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.