Able Wealth Management LLC Purchases Shares of 2,389 NVIDIA Co. (NASDAQ:NVDA)

Able Wealth Management LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,389 shares of the computer hardware maker’s stock, valued at approximately $321,000.

Several other hedge funds also recently modified their holdings of the stock. AMF Tjanstepension AB increased its position in shares of NVIDIA by 2.2% during the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after purchasing an additional 169,445 shares during the last quarter. Wealth Group Ltd. boosted its holdings in shares of NVIDIA by 5.0% in the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after buying an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after buying an additional 350 shares in the last quarter. Swedbank AB increased its holdings in NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after buying an additional 1,868,358 shares during the last quarter. Finally, Integris Wealth Management LLC raised its position in NVIDIA by 25.3% during the third quarter. Integris Wealth Management LLC now owns 3,828 shares of the computer hardware maker’s stock worth $465,000 after acquiring an additional 772 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $120.69 on Wednesday. The company’s 50 day simple moving average is $126.46 and its 200 day simple moving average is $131.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13. The stock has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 47.50, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, research analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.01 dividend. 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 payout ratio is currently 1.36%.

Insider Activity

In other news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the company’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 value of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 183,609 shares of company stock worth $22,642,615. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of analyst reports. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. William Blair reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. DA Davidson dropped their price objective on NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus 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.