Everence Capital Management Inc. Takes $8.43 Million Position in NVIDIA Co. (NASDAQ:NVDA)


Share on StockTwits

Everence Capital Management Inc. acquired a new stake in NVIDIA Co. (NASDAQ:NVDA) in the first quarter, HoldingsChannel.com reports. The firm acquired 15,789 shares of the computer hardware maker’s stock, valued at approximately $8,430,000. NVIDIA accounts for 0.8% of Everence Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding.

Other institutional investors have also recently modified their holdings of the company. Minot Wealth Management LLC boosted its holdings in NVIDIA by 13.7% in the fourth quarter. Minot Wealth Management LLC now owns 8,758 shares of the computer hardware maker’s stock valued at $4,573,000 after acquiring an additional 1,054 shares during the last quarter. Hartford Investment Management Co. boosted its holdings in NVIDIA by 11.5% in the fourth quarter. Hartford Investment Management Co. now owns 73,359 shares of the computer hardware maker’s stock valued at $38,308,000 after acquiring an additional 7,593 shares during the last quarter. Private Harbour Investment Management & Counsel LLC boosted its holdings in NVIDIA by 13.6% in the fourth quarter. Private Harbour Investment Management & Counsel LLC now owns 4,157 shares of the computer hardware maker’s stock valued at $2,171,000 after acquiring an additional 497 shares during the last quarter. Glaxis Capital Management LLC acquired a new position in NVIDIA in the fourth quarter valued at $1,567,000. Finally, Pactiv General Employee Benefit Trust boosted its holdings in NVIDIA by 40.6% in the fourth quarter. Pactiv General Employee Benefit Trust now owns 43,295 shares of the computer hardware maker’s stock valued at $22,609,000 after acquiring an additional 12,495 shares during the last quarter. Hedge funds and other institutional investors own 65.70% of the company’s stock.

A number of brokerages recently weighed in on NVDA. Wedbush lifted their target price on NVIDIA from $600.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. Cowen boosted their price objective on NVIDIA from $600.00 to $665.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. Piper Sandler boosted their price objective on NVIDIA from $575.00 to $625.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 3rd. Susquehanna boosted their price objective on NVIDIA from $625.00 to $700.00 and gave the stock a “positive” rating in a research note on Monday, February 22nd. Finally, New Street Research upgraded NVIDIA from a “sell” rating to a “neutral” rating in a research note on Wednesday, February 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $593.56.

In other news, Director Mark L. Perry sold 6,104 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $556.58, for a total transaction of $3,397,364.32. Following the completion of the transaction, the director now directly owns 8,031 shares of the company’s stock, valued at $4,469,893.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.47% of the stock is currently owned by corporate insiders.

NVIDIA stock traded up $9.32 during midday trading on Thursday, hitting $575.06. The stock had a trading volume of 189,545 shares, compared to its average volume of 8,266,496. The company has a current ratio of 3.92, a quick ratio of 3.52 and a debt-to-equity ratio of 0.39. The stock has a market cap of $356.54 billion, a P/E ratio of 92.59, a P/E/G ratio of 3.87 and a beta of 1.45. NVIDIA Co. has a 12 month low of $257.00 and a 12 month high of $614.90. The business has a fifty day moving average price of $534.84 and a 200 day moving average price of $535.31.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Tuesday, February 23rd. The computer hardware maker reported $3.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.29. The company had revenue of $5 billion during the quarter, compared to analyst estimates of $4.83 billion. NVIDIA had a return on equity of 32.61% and a net margin of 25.89%. During the same period in the prior year, the company earned $1.89 earnings per share. On average, equities analysts anticipate that NVIDIA Co. will post 7.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 10th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Tuesday, March 9th. NVIDIA’s dividend payout ratio (DPR) is presently 13.94%.

About NVIDIA

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 gaming; 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 EGX for accelerated AI computing at the edge.

Featured Article: The role of implied volatility with call option volume

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.