Define Financial LLC Takes $589,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Define Financial LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,388 shares of the computer hardware maker’s stock, valued at approximately $589,000. NVIDIA makes up 0.4% of Define Financial LLC’s investment portfolio, making the stock its 13th largest holding.

A number of other institutional investors have also recently made changes to their positions in NVDA. Hoertkorn Richard Charles raised its stake in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after acquiring an additional 70 shares during the period. Smart Portfolios LLC boosted its holdings in shares of NVIDIA by 2.7% during 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 during the last quarter. Palisade Asset Management LLC grew its holdings in 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 buying an additional 75 shares in the last quarter. Kwmg LLC grew its holdings in shares of NVIDIA by 0.6% in the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after purchasing an additional 77 shares in the last quarter. Finally, Total Wealth Planning LLC increased its holdings in shares of NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $120.07 on Friday. The company has a market cap of $2.94 trillion, a price-to-earnings ratio of 47.25, a PEG ratio of 2.23 and a beta of 1.64. The firm’s fifty day simple moving average is $137.02 and its two-hundred day simple moving average is $129.37. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52-week low of $60.70 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. Equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVDA. Tigress Financial upgraded NVIDIA from a “buy” rating to a “strong-buy” rating and increased their price target for the company from $170.00 to $220.00 in a report on Tuesday. Susquehanna lifted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Tuesday, January 7th. DA Davidson lifted their price target on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Mizuho boosted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $166.23.

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.