NVIDIA Co. (NASDAQ:NVDA) Stock Position Reduced by Ridgecrest Wealth Partners LLC
Ridgecrest Wealth Partners LLC cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 8.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,374 shares of the computer hardware maker’s stock after selling 1,004 shares during the period. NVIDIA comprises approximately 1.5% of Ridgecrest Wealth Partners LLC’s holdings, making the stock its 19th largest position. Ridgecrest Wealth Partners LLC’s holdings in NVIDIA were worth $3,051,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in NVDA. BlackRock Inc. grew its position in NVIDIA by 303.9% during the third quarter. BlackRock Inc. now owns 174,248,282 shares of the computer hardware maker’s stock valued at $36,097,274,000 after purchasing an additional 131,109,218 shares in the last quarter. Geode Capital Management LLC grew its position in NVIDIA by 310.0% in the third quarter. Geode Capital Management LLC now owns 40,382,672 shares of the computer hardware maker’s stock worth $8,342,531,000 after acquiring an additional 30,532,187 shares in the last quarter. Jennison Associates LLC grew its position in NVIDIA by 298.2% in the third quarter. Jennison Associates LLC now owns 29,672,423 shares of the computer hardware maker’s stock worth $6,146,939,000 after acquiring an additional 22,220,104 shares in the last quarter. Bank of New York Mellon Corp grew its position in NVIDIA by 294.8% in the third quarter. Bank of New York Mellon Corp now owns 24,476,208 shares of the computer hardware maker’s stock worth $5,070,488,000 after acquiring an additional 18,277,063 shares in the last quarter. Finally, Baillie Gifford & Co. grew its position in NVIDIA by 289.5% in the third quarter. Baillie Gifford & Co. now owns 20,608,893 shares of the computer hardware maker’s stock worth $4,269,338,000 after acquiring an additional 15,317,971 shares in the last quarter. 63.84% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director John Dabiri sold 281 shares of the firm’s stock in a transaction that occurred on Thursday, December 23rd. The shares were sold at an average price of $297.50, for a total transaction of $83,597.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 292,340 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $237.12, for a total transaction of $69,319,660.80. The disclosure for this sale can be found here. Insiders have sold a total of 732,621 shares of company stock worth $202,358,058 over the last 90 days. Corporate insiders own 4.47% of the company’s stock.
Shares of NVDA stock opened at $247.66 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.05 and a current ratio of 6.65. The company has a market capitalization of $619.15 billion, a P/E ratio of 64.37, a price-to-earnings-growth ratio of 2.91 and a beta of 1.41. The company’s 50 day moving average price is $243.46 and its two-hundred day moving average price is $255.86. NVIDIA Co. has a 52 week low of $122.72 and a 52 week high of $346.47.
NVIDIA (NASDAQ:NVDA – Get Rating) last announced its earnings results on Wednesday, February 16th. The computer hardware maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.01 by $0.13. The firm had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.43 billion. NVIDIA had a net margin of 36.24% and a return on equity of 42.99%. The business’s quarterly revenue was up 52.8% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Analysts forecast that NVIDIA Co. will post 4.7 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 24th. Shareholders of record on Thursday, March 3rd will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, March 2nd. This represents a $0.16 annualized dividend and a yield of 0.06%. NVIDIA’s dividend payout ratio (DPR) is currently 4.16%.
NVDA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of NVIDIA from $185.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, November 18th. Piper Sandler boosted their price objective on shares of NVIDIA from $260.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, November 18th. Needham & Company LLC boosted their price objective on shares of NVIDIA from $245.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, November 18th. Craig Hallum upped their target price on shares of NVIDIA from $220.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 18th. Finally, Jefferies Financial Group increased their price objective on shares of NVIDIA from $260.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, November 18th. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $337.77.
About NVIDIA (Get Rating)
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, Graphics and Compute & Networking. 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 design; GRID software for cloud-based visual and virtual computing; and automotive platforms for infotainment systems.
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