Lorne Steinberg Wealth Management Inc. Invests $217,000 in NVIDIA Co. (NASDAQ:NVDA)

Lorne Steinberg Wealth Management Inc. purchased a new position in NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 439 shares of the computer hardware maker’s stock, valued at approximately $217,000.

A number of other institutional investors also recently made changes to their positions in the stock. Community Bank & Trust Waco Texas increased its stake in NVIDIA by 27.4% in the fourth quarter. Community Bank & Trust Waco Texas now owns 8,409 shares of the computer hardware maker’s stock valued at $4,164,000 after purchasing an additional 1,808 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in NVIDIA by 10.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 9,580 shares of the computer hardware maker’s stock valued at $4,744,000 after purchasing an additional 867 shares during the last quarter. SlateStone Wealth LLC increased its stake in NVIDIA by 12.2% in the fourth quarter. SlateStone Wealth LLC now owns 25,136 shares of the computer hardware maker’s stock valued at $12,448,000 after purchasing an additional 2,740 shares during the last quarter. Demars Financial Group LLC increased its stake in NVIDIA by 1.3% in the fourth quarter. Demars Financial Group LLC now owns 3,968 shares of the computer hardware maker’s stock valued at $1,965,000 after purchasing an additional 52 shares during the last quarter. Finally, Marks Group Wealth Management Inc increased its stake in NVIDIA by 101.1% in the fourth quarter. Marks Group Wealth Management Inc now owns 2,114 shares of the computer hardware maker’s stock valued at $1,047,000 after purchasing an additional 1,063 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on NVDA shares. Tigress Financial upped their target price on NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Piper Sandler upped their target price on NVIDIA from $850.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Morgan Stanley upped their target price on NVIDIA from $795.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price target on NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, Truist Financial boosted their price target on NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $941.55.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 128 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock valued at $52,689,898 in the last quarter. Insiders own 3.99% of the company’s stock.

NVIDIA Trading Down 3.9 %

NASDAQ:NVDA opened at $830.41 on Thursday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $863.93 and its two-hundred day moving average is $644.83. NVIDIA Co. has a 52 week low of $272.40 and a 52 week high of $974.00. The company has a market cap of $2.08 trillion, a PE ratio of 69.55, a P/E/G ratio of 1.26 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the business posted $0.65 EPS. NVIDIA’s quarterly revenue was up 265.3% compared to the same quarter last year. On average, analysts predict that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.

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.