Rainey & Randall Wealth Advisors Inc. Makes New $250,000 Investment in NVIDIA Co. (NASDAQ:NVDA)

Rainey & Randall Wealth Advisors Inc. acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,863 shares of the computer hardware maker’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hoertkorn Richard Charles raised its position in NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its holdings in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after buying an additional 71 shares during the period. Smart Portfolios LLC increased its holdings in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares in the last quarter. Palisade Asset Management LLC lifted its position in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares during the period. Finally, Baker Boyer National Bank boosted its position in 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NVDA shares. DA Davidson dropped their price objective on NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Susquehanna restated a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Mizuho cut their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Finally, HSBC reduced their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Four research 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 company. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

Insider Activity

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 183,609 shares of company stock valued at $22,642,615. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $109.67 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95. The company has a market cap of $2.68 trillion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.76 and a beta of 1.77. The stock has a fifty day moving average price of $125.01 and a 200-day moving average price of $131.34.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping 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 company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. As a group, equities analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is currently 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.