Spire Wealth Management Has $97.37 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Spire Wealth Management trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 725,082 shares of the computer hardware maker’s stock after selling 20,522 shares during the period. NVIDIA makes up about 3.0% of Spire Wealth Management’s portfolio, making the stock its 4th biggest position. Spire Wealth Management’s holdings in NVIDIA were worth $97,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $31,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $34,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $36,000. Finally, Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth approximately $40,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 3.9 %

NVIDIA stock opened at $124.81 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 49.12, a PEG ratio of 1.76 and a beta of 1.62. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $153.13. The business has a fifty day moving average price of $134.19 and a 200-day moving average price of $131.92.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. Equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated 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 transaction, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. 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. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NVDA. DA Davidson reiterated a “neutral” rating and issued a $135.00 price target on shares of NVIDIA in a report on Thursday. UBS Group increased their price target on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Melius Research increased their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Morgan Stanley reiterated an “overweight” rating and issued a $162.00 price target (up from $152.00) on shares of NVIDIA in a report on Wednesday. Finally, Barclays increased their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $169.62.

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.