Abound Wealth Management Purchases 2,039 Shares of NVIDIA Co. (NASDAQ:NVDA)

Abound Wealth Management boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 13.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,460 shares of the computer hardware maker’s stock after purchasing an additional 2,039 shares during the period. NVIDIA comprises 0.8% of Abound Wealth Management’s holdings, making the stock its 21st largest position. Abound Wealth Management’s holdings in NVIDIA were worth $2,345,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. lifted its holdings in NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Truepoint Inc. increased its position in NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares in the last quarter. Palisade Asset Management LLC boosted its position in shares of NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares during the period. Finally, Blue Square Asset Management LLC grew its stake in shares of NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after acquiring an additional 10,136 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent research reports. Redburn Atlantic initiated coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Raymond James lifted their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Mizuho increased their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Melius Research boosted their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Barclays raised their target price on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.23.

NVIDIA Trading Up 7.9 %

NASDAQ:NVDA opened at $127.80 on Wednesday. The stock has a market capitalization of $3.13 trillion, a price-to-earnings ratio of 50.29, a PEG ratio of 2.65 and a beta of 1.64. The firm has a fifty day simple moving average of $138.29 and a two-hundred day simple moving average of $129.45. 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 Co. has a 12 month low of $60.70 and a 12 month high of $153.13.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. 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 is currently 1.57%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the firm’s 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 have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by corporate insiders.

NVIDIA 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.