Parkworth Wealth Management Inc. Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Parkworth Wealth Management Inc. acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,757 shares of the computer hardware maker's stock, valued at approximately $1,176,000. NVIDIA makes up approximately 1.0% of Parkworth Wealth Management Inc.'s portfolio, making the stock its 23rd largest holding.

Several other large investors have also made changes to their positions in the company. DiNuzzo Private Wealth Inc. grew its stake in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after purchasing an additional 71 shares during the period. Smart Portfolios LLC raised its stake in NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock worth $341,000 after acquiring an additional 75 shares in the last quarter. Palisade Asset Management LLC boosted its stake in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after purchasing an additional 75 shares in the last quarter. Baker Boyer National Bank increased its position in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after purchasing an additional 76 shares in the last quarter. Finally, Kwmg LLC boosted its position in NVIDIA by 0.6% in the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock valued at $1,755,000 after buying an additional 77 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Trading Down 3.0 %

Shares of NVDA traded down $3.16 during mid-day trading on Friday, reaching $101.33. 290,593,259 shares of the company were exchanged, compared to its average volume of 312,556,411. The business has a 50 day simple moving average of $117.19 and a two-hundred day simple moving average of $129.89. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $195.95. The stock has a market capitalization of $2.47 trillion, a PE ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the company's stock in a transaction dated 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 transaction, the director now owns 251,044 shares in the company, 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 147,147 shares of company stock worth $17,133,207. Corporate insiders own 4.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NVDA shares. DA Davidson decreased their target price on NVIDIA from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Monday. Benchmark restated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Raymond James restated a "strong-buy" rating on shares of NVIDIA in a report on Wednesday. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday. Finally, Truist Financial increased their target price on NVIDIA from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.51.

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.