BNC Wealth Management LLC Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

BNC Wealth Management LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,793 shares of the computer hardware maker’s stock after purchasing an additional 2,143 shares during the period. NVIDIA makes up 8.4% of BNC Wealth Management LLC’s portfolio, making the stock its biggest position. BNC Wealth Management LLC’s holdings in NVIDIA were worth $25,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sandy Cove Advisors LLC lifted its position in shares of NVIDIA by 11.6% in the fourth quarter. Sandy Cove Advisors LLC now owns 18,584 shares of the computer hardware maker’s stock worth $2,496,000 after buying an additional 1,935 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its holdings in NVIDIA by 2.4% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 59,016 shares of the computer hardware maker’s stock valued at $7,925,000 after purchasing an additional 1,403 shares during the period. Choice Wealth Advisors LLC grew its position in NVIDIA by 3.7% in the 4th quarter. Choice Wealth Advisors LLC now owns 20,998 shares of the computer hardware maker’s stock worth $2,820,000 after purchasing an additional 750 shares during the last quarter. Riversedge Advisors LLC increased its holdings in shares of NVIDIA by 1.7% during the 4th quarter. Riversedge Advisors LLC now owns 23,986 shares of the computer hardware maker’s stock worth $3,221,000 after purchasing an additional 407 shares during the period. Finally, Sandbox Financial Partners LLC raised its position in shares of NVIDIA by 0.7% during the fourth quarter. Sandbox Financial Partners LLC now owns 49,727 shares of the computer hardware maker’s stock valued at $6,678,000 after buying an additional 359 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on NVDA. Robert W. Baird lifted their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Stifel Nicolaus increased their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI increased their price target on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Truist Financial boosted their price objective on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Redburn Atlantic began coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $166.23.

NVIDIA Stock Performance

NVDA stock opened at $129.84 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $66.25 and a 1-year high of $153.13. The business’s 50-day moving average price is $135.48 and its two-hundred day moving average price is $129.35. The firm has a market cap of $3.18 trillion, a PE ratio of 51.10, a P/E/G ratio of 2.16 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 in the last ninety days. 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.