Summit X LLC Purchases 4,630 Shares of NVIDIA Co. (NASDAQ:NVDA)

Summit X LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,851 shares of the computer hardware maker's stock after purchasing an additional 4,630 shares during the quarter. NVIDIA comprises approximately 4.1% of Summit X LLC's holdings, making the stock its 4th largest position. Summit X LLC's holdings in NVIDIA were worth $18,382,000 at the end of the most recent quarter.

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

Insider Buying and Selling at NVIDIA

In related news, Director Aarti S. Shah sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction 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 sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $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 a total of 147,147 shares of company stock worth $17,133,207 over the last 90 days. Insiders own 4.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NVDA shares. Raymond James reaffirmed a "strong-buy" rating on shares of NVIDIA in a report on Wednesday. Wedbush reaffirmed an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday. Benchmark reissued a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Bank of America dropped their price target on NVIDIA from $200.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday. Finally, TD Cowen lowered their target price on NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Six research analysts have rated the stock with 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $165.51.

NVIDIA Stock Performance

NVDA traded down $3.16 on Friday, reaching $101.33. The company had a trading volume of 290,593,259 shares, compared to its average volume of 312,556,411. The company's fifty day moving average is $117.19 and its 200 day moving average is $129.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $2.47 trillion, a P/E ratio of 39.88, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts' consensus estimates 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. As a group, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

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.