Prasad Wealth Partners LLC Makes New $7.63 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Prasad Wealth Partners LLC acquired a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 56,814 shares of the computer hardware maker’s stock, valued at approximately $7,629,000. NVIDIA comprises approximately 2.5% of Prasad Wealth Partners LLC’s investment portfolio, making the stock its 12th biggest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter valued at about $34,000. Luken Investment Analytics LLC acquired a new position in NVIDIA during the 4th quarter valued at about $40,000. DHJJ Financial Advisors Ltd. boosted its stake 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 valued at $41,000 after purchasing an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. raised its stake in shares of NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after buying an additional 248 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 1.6 %

NVDA stock opened at $109.67 on Monday. The business’s fifty day moving average price is $125.01 and its two-hundred day moving average price is $131.61. The stock has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last released 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 net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current 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 given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio is 1.36%.

Wall Street Analyst Weigh In

Several research firms have weighed in on NVDA. Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $171.51.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction on 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. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,609 shares of company stock worth $22,642,615 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

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.