Morris Financial Concepts Inc. Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Morris Financial Concepts Inc. raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 40.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,780 shares of the computer hardware maker’s stock after purchasing an additional 1,087 shares during the period. Morris Financial Concepts Inc.’s holdings in NVIDIA were worth $508,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NVDA. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the 4th quarter valued at about $34,000. Luken Investment Analytics LLC purchased a new position in NVIDIA during the 4th quarter valued at about $40,000. DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the period. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. grew its position in shares of NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after buying an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, 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. 4.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Summit Insights downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Citigroup lifted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. TD Cowen lifted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Stock Performance

NVDA opened at $121.67 on Monday. 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 firm has a fifty day moving average price of $129.26 and a 200 day moving average price of $131.23. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13. The stock has a market cap of $2.97 trillion, a P/E ratio of 47.88, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Equities research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

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.