Peapack Gladstone Financial Corp Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Peapack Gladstone Financial Corp increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 324,348 shares of the computer hardware maker’s stock after buying an additional 20,540 shares during the period. Peapack Gladstone Financial Corp’s holdings in NVIDIA were worth $39,388,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVDA. Quest Partners LLC acquired a new position in NVIDIA in the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc acquired a new position in NVIDIA in the third quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA in the second quarter valued at approximately $31,000. West Financial Advisors LLC acquired a new stake in shares of NVIDIA in the third quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $147.07 on Thursday. NVIDIA Co. has a 1-year low of $58.58 and a 1-year high of $153.13. The firm has a market capitalization of $3.60 trillion, a PE ratio of 57.88, a P/E/G ratio of 2.48 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business’s fifty day moving average price is $138.69 and its two-hundred day moving average price is $129.22.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the firm posted $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, research analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVDA. Oppenheimer reissued an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Wedbush increased their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Raymond James increased their price objective on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Barclays raised their price target on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Evercore ISI raised their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

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.