Summit Wealth & Retirement Planning Inc. Has $1.37 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Summit Wealth & Retirement Planning Inc. increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,222 shares of the computer hardware maker’s stock after purchasing an additional 714 shares during the period. NVIDIA makes up 0.4% of Summit Wealth & Retirement Planning Inc.’s holdings, making the stock its 23rd largest position. Summit Wealth & Retirement Planning Inc.’s holdings in NVIDIA were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in NVDA. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA during the 3rd quarter worth approximately $27,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the fourth quarter valued at approximately $34,000. West Financial Advisors LLC acquired a new stake in NVIDIA during the third quarter worth approximately $36,000. Luken Investment Analytics LLC bought a new position in NVIDIA during the 4th quarter worth $40,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $106.98 on Tuesday. The business has a fifty day simple moving average of $131.05 and a two-hundred day simple moving average of $131.57. The firm has a market capitalization of $2.61 trillion, a P/E ratio of 42.10, a P/E/G ratio of 1.76 and a beta of 1.77. 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.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. On average, equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share 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 $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 dividend yield of 0.04%. NVIDIA’s payout ratio is currently 1.36%.

Analyst Ratings Changes

NVDA has been the subject of several recent analyst reports. Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, February 20th. Evercore ISI increased their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $171.69.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,107,632 shares of company stock valued at $146,405,286 over the last three months. Corporate insiders own 4.23% of the company’s stock.

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.