NVIDIA Co. (NASDAQ:NVDA) is NewEdge Wealth LLC’s 9th Largest Position

NewEdge Wealth LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 672,393 shares of the computer hardware maker’s stock after buying an additional 76,394 shares during the period. NVIDIA comprises 1.6% of NewEdge Wealth LLC’s portfolio, making the stock its 9th largest holding. NewEdge Wealth LLC’s holdings in NVIDIA were worth $90,296,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP boosted its holdings in shares of NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Palisade Asset Management LLC lifted its position in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares during the period. SMART Wealth LLC boosted its stake in NVIDIA by 289.5% in the 4th quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after buying an additional 53,747 shares during the last quarter. Blue Square Asset Management LLC grew its holdings in NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after buying an additional 10,136 shares during the period. Finally, Wealthspire Advisors LLC increased its stake in shares of NVIDIA by 29.6% during the 4th quarter. Wealthspire Advisors LLC now owns 174,896 shares of the computer hardware maker’s stock valued at $23,487,000 after acquiring an additional 39,944 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NVDA. Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, February 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. KeyCorp set a $190.00 price target on NVIDIA in a research report on Wednesday, March 19th. Finally, Barclays raised their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Price Performance

NVDA opened at $110.42 on Thursday. The firm has a market capitalization of $2.69 trillion, a P/E ratio of 43.46, a PEG 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 $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $123.07 and a 200-day moving average of $131.32.

NVIDIA (NASDAQ:NVDA) last posted its 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. Equities analysts forecast 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 was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio is 1.36%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on 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 directly owns 479,428 shares in the company, 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. Insiders sold 183,609 shares of company stock worth $22,642,615 over the last ninety days. Company 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.