Seaside Wealth Management Inc. Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Seaside Wealth Management Inc. acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,642 shares of the computer hardware maker’s stock, valued at approximately $221,000.

Other institutional investors have also recently made changes to their positions in the company. Hoertkorn Richard Charles boosted its position in shares of NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after buying an additional 70 shares during the last quarter. Smart Portfolios LLC boosted its position in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares during the last quarter. Palisade Asset Management LLC boosted its position in shares of NVIDIA by 0.5% during 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 buying an additional 75 shares during the last quarter. Kwmg LLC boosted its position in shares of NVIDIA by 0.6% during the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after buying an additional 77 shares during the last quarter. Finally, Total Wealth Planning LLC boosted its position in shares of NVIDIA by 3.6% during the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several recent analyst reports. Raymond James increased their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Robert W. Baird raised their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Redburn Atlantic started coverage on NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, TD Cowen raised their target price on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $166.23.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $116.66 on Tuesday. The stock has a market cap of $2.86 trillion, a price-to-earnings ratio of 45.91, a price-to-earnings-growth ratio of 2.16 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a 50 day moving average price of $136.58 and a 200-day moving average price of $129.41. NVIDIA Co. has a one year low of $66.25 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 EPS. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors 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 yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction 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 approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last quarter. 4.23% of the stock is owned by company insiders.

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.