Allegiance Financial Group Advisory Services LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Allegiance Financial Group Advisory Services LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 61.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,671 shares of the computer hardware maker’s stock after acquiring an additional 2,168 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in NVIDIA were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the fourth quarter worth about $34,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the 4th quarter valued at about $40,000. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 4th quarter valued at about $46,000. 1620 Investment Advisors Inc. lifted its holdings in shares of NVIDIA by 145.9% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after acquiring an additional 248 shares during the period. Finally, Gleason Group Inc. boosted its position in shares of NVIDIA by 52.9% in the fourth quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock worth $58,000 after acquiring an additional 148 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 183,609 shares of company stock valued at $22,642,615 over the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Trading Up 0.2 %

Shares of NVDA opened at $110.42 on Thursday. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $123.07 and its 200-day moving average price is $131.32. The firm has a market capitalization of $2.69 trillion, a price-to-earnings ratio of 43.46, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping 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 company had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. Sell-side analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Morgan Stanley set a $162.00 price objective on NVIDIA and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Wedbush reissued an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, February 20th. Finally, Barclays lifted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $171.51.

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.