Lakeridge Wealth Management LLC Has $6.34 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Lakeridge Wealth Management LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,212 shares of the computer hardware maker’s stock after buying an additional 472 shares during the period. NVIDIA makes up approximately 3.3% of Lakeridge Wealth Management LLC’s portfolio, making the stock its 8th biggest position. Lakeridge Wealth Management LLC’s holdings in NVIDIA were worth $6,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVDA. AMF Tjanstepension AB increased its holdings in NVIDIA by 2.2% during the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after purchasing an additional 169,445 shares in the last quarter. Wealth Group Ltd. increased its holdings in NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after purchasing an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares in the last quarter. Swedbank AB increased its holdings in NVIDIA by 4.8% during the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after purchasing an additional 1,868,358 shares in the last quarter. Finally, Cascade Investment Group Inc. increased its holdings in NVIDIA by 57.6% during the 3rd quarter. Cascade Investment Group Inc. now owns 7,873 shares of the computer hardware maker’s stock worth $956,000 after purchasing an additional 2,878 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred 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 completion of 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. Insiders have sold 92,449 shares of company stock worth $11,960,727 in the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $117.52 on Thursday. The company’s 50-day moving average price is $127.71 and its 200-day moving average price is $131.12. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.87 trillion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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 paid a $0.01 dividend. The ex-dividend date 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 1.36%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NVDA shares. Truist Financial upped their target price on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Mizuho dropped their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $171.76.

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.