Pegasus Partners Ltd. Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Pegasus Partners Ltd. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 14.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,809 shares of the computer hardware maker’s stock after purchasing an additional 223 shares during the period. Pegasus Partners Ltd.’s holdings in NVIDIA were worth $787,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NVDA. Geode Capital Management LLC boosted its stake in NVIDIA by 3.0% during the second quarter. Geode Capital Management LLC now owns 47,459,414 shares of the computer hardware maker’s stock worth $20,022,108,000 after acquiring an additional 1,403,401 shares in the last quarter. Morgan Stanley boosted its stake in NVIDIA by 20.2% during the fourth 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. Norges Bank bought a new stake in NVIDIA during the fourth quarter worth about $3,900,874,000. Northern Trust Corp boosted its stake in NVIDIA by 3.6% during the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after acquiring an additional 910,009 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in NVIDIA by 160,446.3% during the fourth 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. Institutional investors own 64.79% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $790.92 on Tuesday. The firm has a 50-day moving average price of $603.19 and a 200-day moving average price of $507.87. The firm has a market capitalization of $1.98 trillion, a PE ratio of 66.24, a price-to-earnings-growth ratio of 1.36 and a beta of 1.69. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. NVIDIA Co. has a 12-month low of $222.97 and a 12-month high of $823.94.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 265.3% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 19.55 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Activity

In other news, Director Mark A. Stevens sold 10,400 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $481.60, for a total value of $5,008,640.00. Following the completion of the sale, the director now owns 979,431 shares in the company, valued at approximately $471,693,969.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Debora Shoquist sold 15,824 shares of NVIDIA stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $482.42, for a total value of $7,633,814.08. Following the transaction, the executive vice president now owns 74,036 shares of the company’s stock, valued at approximately $35,716,447.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 10,400 shares of NVIDIA stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $481.60, for a total transaction of $5,008,640.00. Following the completion of the transaction, the director now directly owns 979,431 shares in the company, valued at approximately $471,693,969.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,998 shares of company stock worth $65,236,422. 3.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research reports. Wedbush boosted their price objective on shares of NVIDIA from $800.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Truist Financial lifted their target price on shares of NVIDIA from $691.00 to $911.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. TD Cowen lifted their target price on shares of NVIDIA from $700.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $900.00 target price (up from $775.00) on shares of NVIDIA in a report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $820.03.

View Our Latest Stock Report on NVDA

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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