Puff Wealth Management LLC Takes $1.77 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Puff Wealth Management LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 13,186 shares of the computer hardware maker’s stock, valued at approximately $1,771,000. NVIDIA accounts for approximately 2.9% of Puff Wealth Management LLC’s investment portfolio, making the stock its 12th largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the fourth quarter worth about $34,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA during the fourth quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 70.0% during the third 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 last quarter. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the fourth quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. raised its stake in NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after purchasing an additional 248 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NVIDIA stock opened at $117.52 on Thursday. The firm’s 50 day simple moving average is $127.71 and its 200 day simple moving average is $131.12. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.87 trillion, a PE ratio of 46.25, 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 $153.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $38.16 billion. As a group, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVDA. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research note on Wednesday. Robert W. Baird raised their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Truist Financial lifted their price target on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 27th. KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday. Finally, Barclays lifted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.76.

Insider Buying and Selling at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,449 shares of company stock valued at $11,960,727 in the last quarter. Company insiders own 4.23% of the company’s stock.

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.