NVIDIA Co. (NASDAQ:NVDA) is Purus Wealth Management LLC’s Largest Position

Purus Wealth Management LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 279,452 shares of the computer hardware maker’s stock after selling 956 shares during the period. NVIDIA makes up about 14.8% of Purus Wealth Management LLC’s portfolio, making the stock its biggest position. Purus Wealth Management LLC’s holdings in NVIDIA were worth $37,528,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA in the 2nd quarter worth approximately $31,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the 4th quarter worth $34,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA during the 3rd quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $129.84 on Monday. The stock has a market capitalization of $3.18 trillion, a price-to-earnings ratio of 51.10, a PEG ratio of 1.62 and a beta of 1.62. The company’s 50-day simple moving average is $135.31 and its 200-day simple moving average is $129.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a one year low of $66.25 and a one year high of $153.13.

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

NVIDIA Dividend Announcement

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 dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Activity

In other news, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. DA Davidson increased their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Raymond James boosted their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Tuesday, January 7th. Redburn Atlantic initiated coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average 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.