Sax Wealth Advisors LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Sax Wealth Advisors LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,836 shares of the computer hardware maker’s stock after purchasing an additional 2,856 shares during the quarter. Sax Wealth Advisors LLC’s holdings in NVIDIA were worth $6,424,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. boosted its holdings in shares of NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after purchasing an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. lifted its position in NVIDIA by 900.0% during the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after buying an additional 3,240 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA during the second quarter worth $31,000. Lloyd Advisory Services LLC. increased its stake in shares of NVIDIA by 89.8% in the 2nd quarter. Lloyd Advisory Services LLC. now owns 12,064 shares of the computer hardware maker’s stock worth $1,490,000 after acquiring an additional 5,709 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in shares of NVIDIA by 916.6% during the 2nd quarter. Lake Street Advisors Group LLC now owns 320,017 shares of the computer hardware maker’s stock worth $39,535,000 after acquiring an additional 288,538 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVDA. Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Melius Research upped their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wedbush lifted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Finally, HSBC dropped their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.23.

NVIDIA Trading Up 5.1 %

Shares of NVDA opened at $124.76 on Thursday. The firm has a 50 day simple moving average of $135.83 and a 200-day simple moving average of $129.39. The stock has a market cap of $3.06 trillion, a price-to-earnings ratio of 49.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.62. 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 1-year low of $66.25 and a 1-year high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business 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 business’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. 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 Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

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.