NRI Wealth Management LC Buys New Shares in NVIDIA Co. (NASDAQ:NVDA)

NRI Wealth Management LC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 90,903 shares of the computer hardware maker’s stock, valued at approximately $12,207,000. NVIDIA comprises approximately 8.4% of NRI Wealth Management LC’s investment portfolio, making the stock its 4th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter valued at approximately $27,000. Quest Partners LLC bought a new position in shares of NVIDIA during the 2nd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA in the 2nd quarter worth $31,000. West Financial Advisors LLC bought a new stake in NVIDIA in the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. grew 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 last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVDA opened at $142.62 on Friday. The company’s 50-day simple moving average is $138.71 and its two-hundred day simple moving average is $129.47. 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 capitalization of $3.49 trillion, a P/E ratio of 56.13, a P/E/G ratio of 2.65 and a beta of 1.64. NVIDIA Co. has a 52-week low of $60.57 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

Insider Activity at NVIDIA

In other news, 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 value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’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 completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NVDA shares. Susquehanna increased their target price on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Bank of America reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Redburn Atlantic started coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. UBS Group upped their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Oppenheimer reissued an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.63.

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.