Joel Adams & Associates Inc. Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Joel Adams & Associates Inc. bought a new position in NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,990 shares of the computer hardware maker’s stock, valued at approximately $267,000.

Several other hedge funds have also made changes to their positions in the company. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA in the 4th quarter worth $34,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the 4th quarter worth $40,000. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares in the last quarter. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the 4th quarter worth $46,000. Finally, 1620 Investment Advisors Inc. raised 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 acquiring an additional 248 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $117.70 on Monday. The firm has a 50-day simple moving average of $126.92 and a 200-day simple moving average of $131.36. The stock has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its 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. The business 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%. On average, equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Activity at NVIDIA

In related 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 completion of the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,109 shares of company stock valued at $22,117,015. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Susquehanna reissued a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Truist Financial upped their target price on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, HSBC reduced their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $171.51.

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.