UNICOM Systems Inc. Buys Shares of 642,898 NVIDIA Co. (NASDAQ:NVDA)

UNICOM Systems Inc. purchased a new position in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, Holdings Channel.com reports. The firm purchased 642,898 shares of the computer hardware maker’s stock, valued at approximately $86,335,000. NVIDIA comprises about 21.0% of UNICOM Systems Inc.’s investment portfolio, making the stock its 2nd biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hoertkorn Richard Charles raised its position in shares of NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after buying an additional 70 shares during the last quarter. DiNuzzo Private Wealth Inc. raised its position in shares of NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after buying an additional 71 shares during the last quarter. Smart Portfolios LLC raised its position in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares during the last quarter. Palisade Asset Management LLC raised its position in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after buying an additional 75 shares during the last quarter. Finally, Baker Boyer National Bank raised its position in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after buying an additional 76 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 5.3 %

Shares of NASDAQ NVDA opened at $121.67 on Friday. The company’s 50 day simple moving average is $129.26 and its 200 day simple moving average is $131.17. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The firm has a market capitalization of $2.97 trillion, a P/E ratio of 47.88, a P/E/G ratio of 1.76 and a beta of 1.77. 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 announced 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 net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Mizuho cut their price objective on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday. Wedbush reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Barclays increased their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Evercore ISI increased their price target on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the stock in a transaction on 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 directly owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,039,125 shares of company stock worth $137,062,338 over the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA 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.