Cushing Capital Partners LLC Buys New Position in NVIDIA Co. (NASDAQ:NVDA)

Cushing Capital Partners LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,187 shares of the computer hardware maker's stock, valued at approximately $428,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Tacita Capital Inc acquired a new position in NVIDIA in the fourth quarter worth about $28,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $34,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA in the 4th quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC bought a new stake in NVIDIA in the fourth quarter valued at $46,000. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. Piper Sandler lowered their target price on shares of NVIDIA from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Wednesday. Benchmark restated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Wednesday. TD Cowen cut their price target on NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Raymond James reissued a "strong-buy" rating on shares of NVIDIA in a report on Wednesday. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $165.51.

NVIDIA Trading Down 3.0 %

Shares of NASDAQ:NVDA traded down $3.16 during midday trading on Friday, hitting $101.33. 290,593,259 shares of the stock were exchanged, compared to its average volume of 309,758,204. The business's 50-day moving average price is $116.56 and its 200 day moving average price is $129.86. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 39.88, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 12 month low of $76.40 and a 12 month high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. Analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA's dividend payout ratio (DPR) is currently 1.36%.

Insider Activity

In related news, Director Robert K. Burgess sold 53,324 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 in the last ninety days. 4.23% of the stock is owned by company 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.