Riverbend Wealth Management LLC Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Riverbend Wealth Management LLC bought a new stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,605 shares of the computer hardware maker's stock, valued at approximately $2,364,000. NVIDIA makes up approximately 2.1% of Riverbend Wealth Management LLC's investment portfolio, making the stock its 12th biggest holding.

Several other hedge funds also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. lifted its position 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 worth $1,157,000 after acquiring an additional 71 shares during the period. Smart Portfolios LLC lifted its position in NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock worth $341,000 after purchasing an additional 75 shares during the period. Palisade Asset Management LLC boosted its stake in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after buying an additional 75 shares in the last quarter. Baker Boyer National Bank boosted its stake in NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after buying an additional 76 shares in the last quarter. Finally, Kwmg LLC raised its stake in shares of NVIDIA by 0.6% in the 4th 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. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 3.0 %

NASDAQ NVDA traded down $3.16 on Friday, reaching $101.33. The company had a trading volume of 290,593,259 shares, compared to its average volume of 312,017,771. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $195.95. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. The stock's 50 day moving average is $116.56 and its 200-day moving average is $129.78.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. Equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared 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 dividend payout ratio (DPR) is 1.36%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. William Blair reiterated an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. DA Davidson decreased their price objective on NVIDIA from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Monday. Benchmark reissued a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Bank of America decreased their price target on NVIDIA from $200.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Raymond James reiterated a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.51.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company's stock, valued at $55,997,190.40. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last quarter. Corporate 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.