Rice Partnership LLC Has $4.20 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 18th, 2023

Rice Partnership LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 17.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,125 shares of the computer hardware maker’s stock after buying an additional 2,260 shares during the quarter. NVIDIA comprises about 1.3% of Rice Partnership LLC’s portfolio, making the stock its 29th biggest position. Rice Partnership LLC’s holdings in NVIDIA were worth $4,201,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of NVIDIA by 9.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after acquiring an additional 5,043,685 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NVIDIA by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 45,788,952 shares of the computer hardware maker’s stock valued at $6,679,427,000 after acquiring an additional 692,636 shares during the last quarter. Morgan Stanley increased its position in shares of NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after acquiring an additional 4,621,002 shares during the last quarter. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $3,900,874,000. Finally, Jennison Associates LLC increased its position in shares of NVIDIA by 34.8% during the fourth quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock valued at $3,404,958,000 after acquiring an additional 6,013,647 shares during the last quarter. 64.00% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 2.2 %

NVDA opened at $464.61 on Tuesday. The company has a market cap of $1.15 trillion, a P/E ratio of 241.99, a P/E/G ratio of 3.07 and a beta of 1.74. The business’s 50-day moving average price is $386.41 and its 200-day moving average price is $285.53. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $480.88.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, topping the consensus estimate of $0.92 by $0.17. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The company’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. On average, equities analysts expect that NVIDIA Co. will post 6.43 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 8th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 8.33%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NVDA. BNP Paribas raised NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 price target for the company in a research report on Tuesday, March 21st. Credit Suisse Group set a $275.00 price objective on NVIDIA in a report on Wednesday, March 22nd. Susquehanna increased their price objective on NVIDIA from $350.00 to $450.00 in a report on Thursday, May 25th. TheStreet raised NVIDIA from a “c+” rating to a “b-” rating in a report on Monday, March 20th. Finally, BMO Capital Markets increased their price objective on NVIDIA from $350.00 to $450.00 in a report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $410.14.

Insider Transactions at NVIDIA

In related news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $379.00, for a total value of $37,900,000.00. Following the completion of the sale, the director now directly owns 3,397,136 shares in the company, valued at $1,287,514,544. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 368,271 shares of company stock worth $147,115,953. Company insiders own 3.99% of the company’s stock.

NVIDIA Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.