Lord & Richards Wealth Management LLC Buys Shares of 5,896 NVIDIA Co. (NASDAQ:NVDA)

Lord & Richards Wealth Management LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,896 shares of the computer hardware maker’s stock, valued at approximately $792,000. NVIDIA comprises 1.7% of Lord & Richards Wealth Management LLC’s portfolio, making the stock its 18th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Hoertkorn Richard Charles lifted its position in shares of NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after buying an additional 70 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its position in NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 71 shares during the last quarter. Smart Portfolios LLC boosted its stake in NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after acquiring an additional 75 shares in the last quarter. Palisade Asset Management LLC grew its holdings in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the last quarter. Finally, Baker Boyer National Bank increased its position in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 76 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NASDAQ NVDA opened at $117.52 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $127.71 and a 200 day simple moving average of $131.12. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $153.13. The company has a market cap of $2.87 trillion, a P/E ratio of 46.25, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating 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 business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. Sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company 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 of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.36%.

Insider Activity

In related news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,449 shares of company stock valued at $11,960,727 in the last 90 days. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NVDA shares. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday. Evercore ISI raised their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday. Finally, TD Cowen upped their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.76.

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.