First Commonwealth Financial Corp PA Has $5.21 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

First Commonwealth Financial Corp PA boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,830 shares of the computer hardware maker’s stock after acquiring an additional 343 shares during the period. NVIDIA accounts for about 1.2% of First Commonwealth Financial Corp PA’s holdings, making the stock its 12th biggest position. First Commonwealth Financial Corp PA’s holdings in NVIDIA were worth $5,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NVDA. Capital Square LLC raised its stake in shares of NVIDIA by 40.2% in the fourth quarter. Capital Square LLC now owns 10,550 shares of the computer hardware maker’s stock worth $1,505,000 after purchasing an additional 3,027 shares during the last quarter. Osterweis Capital Management Inc. boosted its position in shares of NVIDIA by 2,750.6% during the fourth quarter. Osterweis Capital Management Inc. now owns 281,781 shares of the computer hardware maker’s stock valued at $37,841,000 after buying an additional 271,896 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in NVIDIA by 67.3% during the fourth quarter. Altshuler Shaham Ltd now owns 89,750 shares of the computer hardware maker’s stock worth $11,779,000 after buying an additional 36,088 shares in the last quarter. Demars Financial Group LLC raised its position in NVIDIA by 13,293.6% in the 4th quarter. Demars Financial Group LLC now owns 5,630,809 shares of the computer hardware maker’s stock valued at $756,161,000 after buying an additional 5,588,768 shares during the last quarter. Finally, Greenwood Gearhart Inc. lifted its stake in NVIDIA by 3.6% during the 4th quarter. Greenwood Gearhart Inc. now owns 277,218 shares of the computer hardware maker’s stock valued at $37,228,000 after acquiring an additional 9,746 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 4.2%

NVDA opened at $135.34 on Thursday. The firm has a market capitalization of $3.31 trillion, a P/E ratio of 53.26, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a one year low of $86.62 and a one year high of $195.95. The company has a fifty day moving average price of $111.24 and a 200-day moving average price of $127.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $38.16 billion. Equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were 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 of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVDA. Mizuho reduced their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Benchmark reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. TD Cowen cut their target price on NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Raymond James restated a “strong-buy” rating on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $164.84.

Insider Buying and Selling at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 over the last three months. 4.23% of the stock is owned by insiders.

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.