MFG Wealth Management Inc. bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) during the 4th quarter, Holdings Channel.com reports. The fund bought 29,562 shares of the computer hardware maker’s stock, valued at approximately $3,970,000. NVIDIA accounts for 3.6% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 3rd largest holding.
Other hedge funds also recently made changes to their positions in the company. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA during the fourth quarter worth approximately $34,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the fourth quarter valued at approximately $40,000. DHJJ Financial Advisors Ltd. increased its stake 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 acquiring an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the fourth quarter valued at approximately $46,000. Finally, 1620 Investment Advisors Inc. increased its stake in NVIDIA by 145.9% in the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after acquiring an additional 248 shares during the last quarter. 65.27% of the stock is owned by institutional investors.
NVIDIA Stock Performance
Shares of NVDA opened at $121.67 on Friday. 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 stock has a market capitalization of $2.97 trillion, a P/E ratio of 47.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The firm’s fifty day simple moving average is $129.26 and its two-hundred day simple moving average is $131.19. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.
Insider Transactions at NVIDIA
In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated 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 directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,039,125 shares of company stock valued at $137,062,338 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on NVDA. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Barclays lifted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research note on Monday, February 24th. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $171.51.
Read Our Latest Stock Report on NVIDIA
NVIDIA 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.
Featured Stories
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA – Free Report).
Receive News & Ratings for NVIDIA Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NVIDIA and related companies with MarketBeat.com’s FREE daily email newsletter.