Hobart Private Capital LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Hobart Private Capital LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 33.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,511 shares of the computer hardware maker’s stock after purchasing an additional 2,863 shares during the quarter. Hobart Private Capital LLC’s holdings in NVIDIA were worth $1,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the 3rd quarter valued at about $27,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA during the fourth quarter worth approximately $34,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA in the third quarter valued at $36,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the 4th quarter valued at about $40,000. Finally, DHJJ Financial Advisors Ltd. grew its holdings 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 purchasing an additional 140 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Down 5.1 %

Shares of NVDA stock opened at $106.98 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $2.61 trillion, a PE ratio of 42.10, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The business’s fifty day moving average is $131.05 and its 200-day moving average is $131.57. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13.

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

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s payout ratio is presently 1.36%.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction 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 approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. HSBC cut their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus upped their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 target price on shares of NVIDIA in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $171.69.

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.