Townsend & Associates Inc Purchases 242 Shares of NVIDIA Co. (NASDAQ:NVDA)

Townsend & Associates Inc raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,643 shares of the computer hardware maker’s stock after acquiring an additional 242 shares during the period. Townsend & Associates Inc’s holdings in NVIDIA were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 4th quarter worth about $34,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the fourth quarter worth about $40,000. DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 70.0% during the third 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 during the last quarter. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the fourth quarter valued at approximately $46,000. Finally, 1620 Investment Advisors Inc. lifted its stake 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 valued at $51,000 after purchasing an additional 248 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Down 1.6 %

NVIDIA stock opened at $109.67 on Friday. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $195.95. The stock has a market capitalization of $2.68 trillion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. 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 business has a 50 day simple moving average of $125.01 and a 200-day simple moving average of $131.34.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company 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, analysts anticipate that NVIDIA Co. will post 2.77 EPS 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 issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 1.36%.

Insider Activity

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 183,609 shares of company stock worth $22,642,615 over the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NVDA shares. Barclays boosted their target price on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the company an “overweight” rating in a research note on Wednesday, March 19th. HSBC lowered their target price on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. Benchmark reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Four equities 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

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.