Destiny Wealth Partners LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Destiny Wealth Partners LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 209.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,318 shares of the computer hardware maker’s stock after purchasing an additional 29,976 shares during the period. Destiny Wealth Partners LLC’s holdings in NVIDIA were worth $5,951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NVDA. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA in the third quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA in the 2nd quarter valued at $31,000. Legend Financial Advisors Inc. purchased a new stake in NVIDIA in the 4th quarter valued at $34,000. West Financial Advisors LLC acquired a new stake in NVIDIA during the 3rd quarter worth $36,000. Finally, Luken Investment Analytics LLC purchased a new position in NVIDIA during the 4th quarter worth $40,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 8.5 %

NVDA opened at $120.15 on Friday. The business’s fifty day simple moving average is $134.39 and its 200 day simple moving average is $131.81. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The firm has a market cap of $2.94 trillion, a P/E ratio of 47.28, a PEG ratio of 1.76 and a beta of 1.62. 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 (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NVDA shares. TD Cowen upped their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. HSBC reduced 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. Melius Research lifted their target price on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday. Finally, Raymond James increased their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.62.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,107,632 shares of company stock valued at $146,405,286 in the last quarter. 4.23% of the stock is currently owned by company insiders.

NVIDIA Company Profile

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.