Pallas Capital Advisors LLC sells 4,689 shares of NVIDIA Co. (NASDAQ: NVDA)

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Pallas Capital Advisors LLC cut its stake in NVIDIA Co. (NASDAQ: NVDA – Get Rating) by 31.5% in Q1, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 10,211 shares of the hardware maker after selling 4,689 shares during the period. Pallas Capital Advisors LLC’s holdings in NVIDIA were worth $2,171,000 at the end of the most recent reporting period.

Other big investors have also been buying and selling shares of the company recently. BlackRock Inc. increased its stake in NVIDIA shares by 2.1% during the 4th quarter. BlackRock Inc. now owns 177,839,722 shares of the hardware maker worth $52,304,441,000 after acquiring 3,591,440 additional shares in the last quarter. Geode Capital Management LLC increased its stake in NVIDIA shares by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 41,888,133 shares of the hardware maker worth $12,287,340,000 after acquiring an additional 1,505,461 shares in the last quarter. Northern Trust Corp increased its stake in NVIDIA shares by 0.3% during the 4th quarter. Northern Trust Corp now owns 28,364,911 shares of the hardware maker worth $8,342,404,000 after acquiring 88,332 more shares in the last quarter. Norges Bank purchased a new stake in NVIDIA stock during Q4 for a value of approximately $6,279,217,000. Finally, Charles Schwab Investment Management Inc. increased its stake in NVIDIA shares by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,026,064 shares of the hardware maker worth $3,536,987,000 after acquiring 304,829 additional shares in the last quarter. 55.19% of the shares are held by institutional investors and hedge funds.

A number of equity research analysts have recently released reports on the company. Goldman Sachs Group began covering NVIDIA in a research note on Monday, March 7. They set a “neutral” rating and a price target of $245.00 for the company. Sanford C. Bernstein cut its price target on NVIDIA from $325.00 to $225.00 and set an “outperform” rating on the stock in a Monday, May 23 report. Susquehanna reduced its price target on NVIDIA from $280.00 to $260.00 in a Thursday, May 26 report. Piper Sandler cut its price target on NVIDIA from $350.00 to $250.00 and set an “overweight” rating on the stock in a Wednesday, May 25 report. Finally, Credit Suisse Group cut its price target on NVIDIA to $205.00 in a Thursday, May 26 report. Seven equity research analysts gave the stock a hold rating, twenty-six gave the company a buy rating and one gave the company a high buy rating. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $266.41.

NVDA shares opened at $145.23 on Monday. The stock has a 50-day moving average of $175.12 and a two-hundred-day moving average of $225.08. NVIDIA Co. has a one-year low of $143.92 and a one-year high of $346.47. The company has a debt ratio of 0.42, a quick ratio of 4.75 and a current ratio of 5.32. The stock has a market capitalization of $363.08 billion, a P/E ratio of 38.94, a P/E/G ratio of 2.13 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly results on Wednesday, May 25. The hardware maker reported EPS of $1.36 for the quarter, beating analyst consensus estimates of $1.29 by $0.07. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The company posted revenue of $8.29 billion in the quarter, compared to analysts’ expectations of $8.09 billion. In the same quarter a year earlier, the company posted EPS of $0.78. The company’s revenue increased by 46.4% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post EPS of 4.54 for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Thursday, June 9 received a dividend of $0.04 per share. The ex-dividend date was Wednesday, June 8. This represents a dividend of $0.16 on an annualized basis and a yield of 0.11%. NVIDIA’s dividend payout ratio is currently 4.29%.

Separately, Executive Vice President Debora Shoquist sold 23,644 shares of the company in a trade dated Wednesday, June 8. The stock was sold at an average price of $188.23, for a total value of $4,450,510.12. Following completion of the transaction, the executive vice president now owns 186,476 shares of the company, valued at approximately $35,100,377.48. The sale was disclosed in a legal filing with the SEC, accessible via this link. Additionally, director John Dabiri sold 2,200 shares of the company in a trade dated Friday, May 27. The shares were sold at an average price of $185.59, for a total value of $408,298.00. Following completion of the transaction, the administrator now directly owns 2,712 shares of the company, valued at approximately $503,320.08. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 139,694 shares of the company valued at $22,850,524. 4.04% of the shares are currently held by insiders.

About NVIDIA (Get a rating)

NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. The Company’s Graphics segment offers GeForce GPUs for games and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.

Further reading

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Institutional ownership by quarter for NVIDIA (NASDAQ:NVDA)



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