David Wealth Management LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

David Wealth Management LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 16,396 shares of the computer hardware maker's stock, valued at approximately $2,202,000. NVIDIA comprises 1.8% of David Wealth Management LLC's portfolio, making the stock its 10th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the fourth quarter valued at about $34,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at about $40,000. DHJJ Financial Advisors Ltd. raised its position 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. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at about $46,000. Finally, 1620 Investment Advisors Inc. raised its position in shares of NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker's stock valued at $51,000 after buying an additional 248 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Price Performance

NVDA opened at $121.67 on Friday. The company's 50 day simple moving average is $129.26 and its 200-day simple moving average is $131.17. NVIDIA Co. has a one year low of $75.61 and a one year high of $153.13. 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 company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

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NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.36%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research analyst reports. Benchmark reaffirmed a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, February 27th. Robert W. Baird increased their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. Citigroup increased their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Loop Capital reissued a "buy" rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $171.51.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,039,125 shares of company stock worth $137,062,338 over the last ninety days. Company insiders own 4.23% of the company's stock.

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.

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