PMG Wealth Management Inc. Invests $510,000 in NVIDIA Co. (NASDAQ:NVDA)

PMG Wealth Management Inc. purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,795 shares of the computer hardware maker’s stock, valued at approximately $510,000.

Other hedge funds have also recently bought and sold shares of the company. AMF Tjanstepension AB raised its holdings in shares of NVIDIA by 2.2% during the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after acquiring an additional 169,445 shares in the last quarter. Wealth Group Ltd. increased its position in NVIDIA by 5.0% in the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after purchasing an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares during the last quarter. Swedbank AB raised its stake in shares of NVIDIA by 4.8% during the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after purchasing an additional 1,868,358 shares in the last quarter. Finally, Benin Management CORP lifted its holdings in shares of NVIDIA by 62.7% during the 3rd quarter. Benin Management CORP now owns 24,860 shares of the computer hardware maker’s stock valued at $3,019,000 after buying an additional 9,576 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 2.0 %

Shares of NVDA opened at $111.43 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $125.57 and a two-hundred day moving average price of $131.32. The stock has a market cap of $2.72 trillion, a price-to-earnings ratio of 43.85, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated 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 sale, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 183,609 shares of company stock worth $22,642,615 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Benchmark reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA 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, Needham & Company LLC restated a “buy” rating and set a $160.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Four investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Company 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.