Peconic Partners LLC Invests $40,000 in NVIDIA Co. (NVDA) Stock

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Peconic Partners LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 300 shares of the computer hardware maker’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Elite Wealth Management Inc. boosted its stake in shares of NVIDIA by 0.6% in the 4th quarter. Elite Wealth Management Inc. now owns 12,053 shares of the computer hardware maker’s stock worth $1,609,000 after buying an additional 76 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its stake in shares of NVIDIA by 37.6% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 289 shares of the computer hardware maker’s stock worth $81,000 after buying an additional 79 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of NVIDIA by 4.0% in the 4th quarter. Contravisory Investment Management Inc. now owns 2,242 shares of the computer hardware maker’s stock worth $299,000 after buying an additional 86 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of NVIDIA by 0.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 13,555 shares of the computer hardware maker’s stock worth $1,809,000 after buying an additional 93 shares during the last quarter. Finally, Blue Fin Capital Inc. boosted its stake in shares of NVIDIA by 2.0% in the 4th quarter. Blue Fin Capital Inc. now owns 4,766 shares of the computer hardware maker’s stock worth $636,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 68.72% of the company’s stock.

Shares of NVDA stock opened at $169.81 on Friday. The company has a current ratio of 7.94, a quick ratio of 6.76 and a debt-to-equity ratio of 0.21. NVIDIA Co. has a 1 year low of $124.46 and a 1 year high of $292.76. The firm has a market cap of $102.90 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 3.90 and a beta of 1.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, February 14th. The computer hardware maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.27. NVIDIA had a net margin of 35.35% and a return on equity of 41.78%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Co. will post 4.49 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 1st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.38%. NVIDIA’s payout ratio is 10.54%.

In other NVIDIA news, EVP Debora Shoquist sold 6,345 shares of the business’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $135.33, for a total transaction of $858,668.85. Following the sale, the executive vice president now owns 177,911 shares of the company’s stock, valued at approximately $24,076,695.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.70% of the company’s stock.

NVDA has been the topic of a number of research analyst reports. Credit Suisse Group initiated coverage on NVIDIA in a research note on Monday, November 26th. They issued an “outperform” rating and a $225.00 target price on the stock. Evercore ISI cut their target price on NVIDIA from $325.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, January 14th. BidaskClub upgraded NVIDIA from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. BNP Paribas downgraded NVIDIA from a “neutral” rating to an “underperform” rating in a research note on Tuesday, November 20th. Finally, Royal Bank of Canada dropped their price objective on NVIDIA from $230.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, December 27th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the stock. NVIDIA presently has a consensus rating of “Buy” and an average target price of $210.62.

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NVIDIA Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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