Golden State Wealth Management LLC bought a new stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 86,135 shares of the computer hardware maker’s stock, valued at approximately $11,567,000. NVIDIA comprises approximately 1.7% of Golden State Wealth Management LLC’s portfolio, making the stock its 9th biggest position.
Several other hedge funds have also recently added to or reduced their stakes in NVDA. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the third quarter valued at approximately $27,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the fourth quarter valued at approximately $34,000. West Financial Advisors LLC purchased a new position in NVIDIA in the third quarter valued at approximately $36,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the fourth quarter valued at approximately $40,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in 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 purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.
Insider Transactions at NVIDIA
In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is currently owned by company insiders.
NVIDIA Trading Up 1.9 %
NVIDIA stock opened at $112.69 on Friday. The stock has a market cap of $2.75 trillion, a PE ratio of 44.35, a P/E/G ratio of 1.76 and a beta of 1.77. The stock has a 50-day moving average price of $131.66 and a 200 day moving average price of $131.66. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on NVDA shares. Morgan Stanley restated an “overweight” rating and set a $162.00 target price (up from $152.00) on shares of NVIDIA in a research report on Wednesday, February 26th. Stifel Nicolaus raised their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Barclays raised their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $171.69.
Read Our Latest Research Report on NVIDIA
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.
Further Reading
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