Bennett Associates Wealth Management Invests $328,000 in NVIDIA Co. (NASDAQ:NVDA)

Bennett Associates Wealth Management bought a new position in NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,443 shares of the computer hardware maker’s stock, valued at approximately $328,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter valued at approximately $27,000. Quest Partners LLC bought a new position in NVIDIA during the second quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA during the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. bought a new position in NVIDIA during the fourth quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new position in NVIDIA during the third quarter valued at approximately $36,000. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NVDA. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Monday, January 27th. Stifel Nicolaus upped their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Tuesday, January 7th. Bank of America reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Finally, Robert W. Baird upped their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Four equities 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.23.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were 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 owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. 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 currently owned by insiders.

NVIDIA Price Performance

NVDA stock opened at $116.66 on Tuesday. NVIDIA Co. has a 52 week low of $66.25 and a 52 week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $136.58 and a two-hundred day simple moving average of $129.41. The firm has a market capitalization of $2.86 trillion, a P/E ratio of 45.91, a price-to-earnings-growth ratio of 2.16 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. Analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

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.