NVIDIA Co. (NASDAQ:NVDA) Position Lifted by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 920,299 shares of the computer hardware maker’s stock after buying an additional 30,403 shares during the period. NVIDIA comprises 2.4% of Kingsview Wealth Management LLC’s holdings, making the stock its 4th biggest holding. Kingsview Wealth Management LLC’s holdings in NVIDIA were worth $123,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in NVDA. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the third quarter worth approximately $27,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the 4th quarter worth $34,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA in the 3rd quarter worth $36,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the 4th quarter worth $40,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in shares of NVIDIA by 70.0% during 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 period. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on NVDA shares. Bank of America increased their target price on shares of NVIDIA from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Truist Financial upped their price target on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Finally, Wells Fargo & Company lifted their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $171.69.

NVIDIA Stock Up 1.9 %

NVIDIA stock opened at $112.69 on Monday. The business’s 50-day moving average price is $131.66 and its 200 day moving average price is $131.68. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.75 trillion, a price-to-earnings ratio of 44.35, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the 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 transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % 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 ninety days. 4.23% of the stock is currently owned by corporate insiders.

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.