NVIDIA Co. (NASDAQ:NVDA) is Parcion Private Wealth LLC’s 10th Largest Position

Parcion Private Wealth LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 24.1% during the third quarter, HoldingsChannel reports. The fund owned 227,184 shares of the computer hardware maker’s stock after acquiring an additional 44,153 shares during the quarter. NVIDIA comprises about 2.3% of Parcion Private Wealth LLC’s holdings, making the stock its 10th largest position. Parcion Private Wealth LLC’s holdings in NVIDIA were worth $27,589,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the period. CGC Financial Services LLC purchased a new stake in NVIDIA during the 2nd quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the 1st quarter worth approximately $27,000. Finally, Quest Partners LLC acquired a new position in NVIDIA during the second quarter valued at $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVDA. HSBC boosted their target price on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Piper Sandler upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Benchmark raised their target price on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, DA Davidson lifted their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % 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. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,796,986 shares of company stock valued at $214,418,399. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Down 0.1 %

NASDAQ NVDA opened at $145.06 on Friday. The firm’s fifty day moving average price is $137.74 and its 200 day moving average price is $125.04. NVIDIA Co. has a 12 month low of $45.41 and a 12 month high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 57.11, a price-to-earnings-growth ratio of 2.54 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the company posted $0.38 earnings per share. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA declared that its board has authorized a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.