Straightline Group LLC Makes New $505,000 Investment in NVIDIA Co. (NASDAQ:NVDA)

Straightline Group LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, Holdings Channel.com reports. The firm purchased 3,758 shares of the computer hardware maker’s stock, valued at approximately $505,000. NVIDIA accounts for about 0.3% of Straightline Group LLC’s holdings, making the stock its 18th biggest position.

Several other hedge funds have also recently modified their holdings of the stock. SOA Wealth Advisors LLC. increased its stake in shares of NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after acquiring an additional 350 shares during the period. Swedbank AB boosted its holdings in NVIDIA by 4.8% in the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares in the last quarter. Principal Financial Group Inc. increased its position in NVIDIA by 3.7% during the 3rd quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker’s stock worth $4,326,576,000 after purchasing an additional 1,285,897 shares during the period. Canopy Partners LLC raised its stake in shares of NVIDIA by 1.2% during the 3rd quarter. Canopy Partners LLC now owns 49,294 shares of the computer hardware maker’s stock worth $5,986,000 after buying an additional 567 shares in the last quarter. Finally, CMG Global Holdings LLC lifted its holdings in shares of NVIDIA by 4.5% in the 3rd quarter. CMG Global Holdings LLC now owns 10,731 shares of the computer hardware maker’s stock valued at $1,303,000 after buying an additional 463 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $116.65 on Friday. The business’s fifty day moving average price is $110.29 and its 200 day moving average price is $127.37. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.85 trillion, a P/E ratio of 45.91, a PEG ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. As a group, research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NVDA. HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Thursday, April 3rd. Bank of America reduced their price objective on shares of NVIDIA from $200.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Finally, Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.96.

Insider Activity at NVIDIA

In other news, Director Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This represents a 27.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by corporate insiders.

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.