NVIDIA Co. (NASDAQ:NVDA) is Peterson Wealth Management’s 4th Largest Position

Peterson Wealth Management raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,917 shares of the computer hardware maker’s stock after buying an additional 7,254 shares during the period. NVIDIA comprises approximately 4.8% of Peterson Wealth Management’s portfolio, making the stock its 4th largest position. Peterson Wealth Management’s holdings in NVIDIA were worth $7,641,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vinva Investment Management Ltd raised its stake in shares of NVIDIA by 11.2% during the third quarter. Vinva Investment Management Ltd now owns 1,159,455 shares of the computer hardware maker’s stock valued at $140,758,000 after acquiring an additional 117,027 shares during the last quarter. Elite Wealth Management Inc. increased its stake in shares of NVIDIA by 1.2% during the third quarter. Elite Wealth Management Inc. now owns 461,031 shares of the computer hardware maker’s stock valued at $55,988,000 after purchasing an additional 5,472 shares in the last quarter. Financial Counselors Inc. grew its holdings in shares of NVIDIA by 2.1% during the third quarter. Financial Counselors Inc. now owns 1,815,009 shares of the computer hardware maker’s stock valued at $220,415,000 after buying an additional 37,394 shares during the last quarter. Castle Hook Partners LP purchased a new stake in shares of NVIDIA during the third quarter valued at approximately $49,162,000. Finally, Noesis Capital Mangement Corp boosted its holdings in NVIDIA by 9.7% in the third quarter. Noesis Capital Mangement Corp now owns 11,708 shares of the computer hardware maker’s stock worth $1,422,000 after purchasing an additional 1,038 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Down 2.0 %

NVDA stock opened at $133.23 on Tuesday. The firm’s fifty day simple moving average is $139.84 and its 200-day simple moving average is $128.76. The company has a market capitalization of $3.26 trillion, a P/E ratio of 52.43, a price-to-earnings-growth ratio of 2.43 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. NVIDIA Co. has a 12 month low of $54.74 and a 12 month high of $153.13.

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

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Activity

In related news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last three months. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Raymond James increased their price target on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. HSBC dropped their price objective on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Tuesday, January 7th. Finally, Truist Financial boosted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.27.

NVIDIA Company Profile

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.