Palouse Capital Management Inc. Buys New Position in NVIDIA Co. (NASDAQ:NVDA)

Palouse Capital Management Inc. purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 1,070 shares of the computer hardware maker’s stock, valued at approximately $144,000.

Several other hedge funds have also recently modified their holdings of the stock. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the fourth quarter valued at $34,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the 4th quarter valued at about $40,000. DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the period. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at about $46,000. Finally, 1620 Investment Advisors Inc. increased its holdings in NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after purchasing an additional 248 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,449 shares of company stock valued at $11,960,727. 4.23% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $118.53 on Friday. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13. The stock has a market capitalization of $2.89 trillion, a P/E ratio of 46.65, a P/E/G ratio of 1.76 and a beta of 1.77. The company’s 50-day moving average is $127.28 and its 200 day moving average is $131.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) 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, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price target on shares of NVIDIA in a report on Wednesday. The Goldman Sachs Group raised their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Mizuho dropped their target price on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday. Finally, Citigroup boosted their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.51.

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.