Legacy Capital Group California Inc. Buys 79,599 Shares of NVIDIA Co. (NASDAQ:NVDA)

Legacy Capital Group California Inc. lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 278.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,223 shares of the computer hardware maker's stock after purchasing an additional 79,599 shares during the quarter. NVIDIA comprises 4.4% of Legacy Capital Group California Inc.'s portfolio, making the stock its 3rd largest position. Legacy Capital Group California Inc.'s holdings in NVIDIA were worth $14,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in NVDA. Legend Financial Advisors Inc. bought a new stake in NVIDIA in the fourth quarter valued at $34,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth about $40,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker's stock worth $41,000 after acquiring an additional 140 shares during the period. Lowe Wealth Advisors LLC bought a new stake in NVIDIA in the 4th quarter valued at about $46,000. Finally, 1620 Investment Advisors Inc. boosted its stake in NVIDIA by 145.9% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker's stock valued at $51,000 after purchasing an additional 248 shares during the period. Institutional investors own 65.27% of the company's stock.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,609 shares of company stock valued at $22,642,615 over the last ninety days. Corporate insiders own 4.23% of the company's stock.

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NVIDIA Stock Down 1.6 %

Shares of NASDAQ NVDA traded down $1.76 during mid-day trading on Friday, reaching $109.67. The company had a trading volume of 229,047,047 shares, compared to its average volume of 314,707,778. The stock has a market capitalization of $2.68 trillion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock's 50 day moving average is $125.01 and its 200-day moving average is $131.50.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 114.83% and a net margin of 55.69%. As a group, equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent analyst reports. Susquehanna reaffirmed a "positive" rating and set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Summit Insights downgraded NVIDIA from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, KeyCorp set a $190.00 price objective 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 issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and a consensus target price of $171.51.

NVIDIA 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.