Spectrum Wealth Counsel LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Spectrum Wealth Counsel LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,621 shares of the computer hardware maker’s stock after purchasing an additional 1,461 shares during the period. NVIDIA accounts for 1.3% of Spectrum Wealth Counsel LLC’s holdings, making the stock its 23rd biggest position. Spectrum Wealth Counsel LLC’s holdings in NVIDIA were worth $11,229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC increased its stake in NVIDIA by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after buying an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NVIDIA by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after acquiring an additional 6,526,200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of NVIDIA by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after purchasing an additional 2,042,348 shares in the last quarter. Fisher Asset Management LLC raised its stake in NVIDIA by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 98,339,379 shares of the computer hardware maker’s stock valued at $13,205,995,000 after purchasing an additional 1,618,672 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in NVIDIA by 0.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 63,615,639 shares of the computer hardware maker’s stock valued at $8,542,944,000 after purchasing an additional 186,761 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVDA. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Barclays raised their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.89.

NVIDIA Trading Down 7.4 %

NVDA opened at $94.31 on Friday. The business has a fifty day moving average price of $121.20 and a 200 day moving average price of $131.07. 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 Co. has a 12 month low of $75.61 and a 12 month high of $195.95. The stock has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 37.12, a PEG ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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. 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 analyst estimates of $38.16 billion. Sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 183,609 shares of company stock worth $22,642,615. Corporate insiders own 4.23% of the company’s stock.

About NVIDIA

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.