Prasad Wealth Partners LLC Takes $7.63 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Prasad Wealth Partners LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 56,814 shares of the computer hardware maker's stock, valued at approximately $7,629,000. NVIDIA comprises 2.5% of Prasad Wealth Partners LLC's portfolio, making the stock its 12th biggest position.

A number of other large investors have also recently made changes to their positions in NVDA. Legend Financial Advisors Inc. bought a new position in NVIDIA in the 4th quarter worth about $34,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA in the 4th quarter worth $40,000. DHJJ Financial Advisors Ltd. grew its position in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker's stock worth $41,000 after buying an additional 140 shares in the last quarter. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA during the 4th quarter worth $46,000. Finally, 1620 Investment Advisors Inc. raised its holdings in shares of NVIDIA by 145.9% in the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker's stock valued at $51,000 after acquiring an additional 248 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the stock an "overweight" rating in a report on Wednesday, March 19th. Barclays upped their target price on NVIDIA from $160.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Mizuho cut their price target on NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. DZ Bank upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a research 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $171.51.

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NVIDIA Stock Performance

NVDA traded up $1.77 during midday trading on Tuesday, hitting $110.15. 216,699,398 shares of the company were exchanged, compared to its average volume of 314,275,604. The company's 50 day simple moving average is $124.42 and its 200 day simple moving average is $131.53. The firm has a market capitalization of $2.69 trillion, a price-to-earnings ratio of 43.35, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend 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

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 53,208 shares of the company's stock, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $55,997,190.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,609 shares of company stock valued at $22,642,615. Corporate insiders own 4.23% of the company's stock.

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.