Golden State Wealth Management LLC Takes $11.57 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Golden State Wealth Management LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 86,135 shares of the computer hardware maker’s stock, valued at approximately $11,567,000. NVIDIA makes up 1.7% of Golden State Wealth Management LLC’s holdings, making the stock its 9th largest holding.

Other institutional investors have also modified their holdings of the company. Ironwood Wealth Management LLC. raised its position in shares of NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares during the last quarter. AMF Tjanstepension AB raised its position in shares of NVIDIA by 2.2% in the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after purchasing an additional 169,445 shares during the last quarter. Bangor Savings Bank raised its position in shares of NVIDIA by 538.6% in the 3rd quarter. Bangor Savings Bank now owns 8,729 shares of the computer hardware maker’s stock valued at $1,060,000 after purchasing an additional 7,362 shares during the last quarter. Chapin Davis Inc. raised its position in shares of NVIDIA by 1.5% in the 3rd quarter. Chapin Davis Inc. now owns 168,500 shares of the computer hardware maker’s stock valued at $20,463,000 after purchasing an additional 2,501 shares during the last quarter. Finally, Aprio Wealth Management LLC raised its position in shares of NVIDIA by 6.9% in the 3rd quarter. Aprio Wealth Management LLC now owns 23,285 shares of the computer hardware maker’s stock valued at $2,828,000 after purchasing an additional 1,510 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NVDA shares. Susquehanna raised their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Finally, Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $171.69.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,107,632 shares of company stock valued at $146,405,286 over the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA Trading Up 1.9 %

Shares of NVDA opened at $112.69 on Friday. 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 $75.61 and a 12-month high of $153.13. The firm has a 50-day moving average price of $131.66 and a 200 day moving average price of $131.66. The firm has a market capitalization of $2.75 trillion, a P/E ratio of 44.35, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. Sell-side analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.01 dividend. 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 0.04%. NVIDIA’s payout ratio is currently 1.36%.

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.