Centricity Wealth Management LLC Takes $913,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Centricity Wealth Management LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,801 shares of the computer hardware maker’s stock, valued at approximately $913,000. NVIDIA accounts for 0.9% of Centricity Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AMF Tjanstepension AB raised its stake in shares of NVIDIA by 2.2% during the third 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 during the last quarter. Wealth Group Ltd. raised its position 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 buying an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in shares of NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after acquiring an additional 350 shares during the period. Swedbank AB boosted its holdings in shares of NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after acquiring an additional 1,868,358 shares in the last quarter. Finally, Madison Park Capital Advisors LLC increased its stake in shares of NVIDIA by 2.4% during the third quarter. Madison Park Capital Advisors LLC now owns 4,230 shares of the computer hardware maker’s stock worth $514,000 after acquiring an additional 100 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 5.7 %

NASDAQ NVDA opened at $113.76 on Thursday. The company has a market cap of $2.78 trillion, a P/E ratio of 44.77, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13. 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 company has a 50-day moving average of $126.01 and a 200-day moving average of $131.46.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced 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 yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday, March 19th. HSBC dropped their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Morgan Stanley set a $162.00 target price on NVIDIA and gave the company an “overweight” rating in a report on Wednesday, March 19th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.51.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was 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 of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is owned by insiders.

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.