Momentous Wealth Management Inc. Purchases Shares of 8,502 NVIDIA Co. (NASDAQ:NVDA)

Momentous Wealth Management Inc. acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,502 shares of the computer hardware maker's stock, valued at approximately $1,142,000. NVIDIA makes up about 0.9% of Momentous Wealth Management Inc.'s holdings, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Florida Financial Advisors LLC grew its position in NVIDIA by 27.8% during the 4th quarter. Florida Financial Advisors LLC now owns 44,614 shares of the computer hardware maker's stock worth $5,992,000 after purchasing an additional 9,718 shares in the last quarter. Aire Advisors LLC grew its position in NVIDIA by 29.1% during the 4th quarter. Aire Advisors LLC now owns 56,938 shares of the computer hardware maker's stock worth $7,646,000 after purchasing an additional 12,839 shares in the last quarter. Baxter Bros Inc. grew its position in NVIDIA by 13.1% during the 4th quarter. Baxter Bros Inc. now owns 6,239 shares of the computer hardware maker's stock worth $838,000 after purchasing an additional 723 shares in the last quarter. Bay Capital Advisors LLC purchased a new position in NVIDIA during the 4th quarter worth approximately $1,620,000. Finally, Potentia Wealth purchased a new position in NVIDIA during the 4th quarter worth approximately $6,596,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares of the company's stock, valued at approximately $6,300,891.36. The trade was a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 2.0 %

Shares of NVDA opened at $108.76 on Tuesday. The company has a 50-day simple moving average of $112.60 and a 200-day simple moving average of $128.76. The firm has a market capitalization of $2.65 trillion, a P/E ratio of 42.80, a P/E/G 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 Co. has a 52 week low of $81.25 and a 52 week high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. On average, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on NVDA. Needham & Company LLC reiterated a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. TD Cowen lowered their price objective on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Raymond James reiterated a "strong-buy" rating on shares of NVIDIA in a research report on Wednesday, April 16th. UBS Group restated a "buy" rating on shares of NVIDIA in a report on Friday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $164.96.

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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