CogentBlue Wealth Advisors LLC Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

CogentBlue Wealth Advisors LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 12,359 shares of the computer hardware maker’s stock, valued at approximately $1,660,000. NVIDIA comprises approximately 1.5% of CogentBlue Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Hoertkorn Richard Charles raised its position in shares of NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares during the period. DiNuzzo Private Wealth Inc. increased its stake in NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after purchasing an additional 71 shares in the last quarter. Smart Portfolios LLC raised its holdings 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 position in shares of 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 purchasing an additional 75 shares in the last quarter. Finally, Baker Boyer National Bank grew its holdings in shares of NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after buying an additional 76 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on 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 transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents 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 179,109 shares of company stock worth $22,117,015. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 3.2 %

NVIDIA stock opened at $121.41 on Tuesday. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The stock has a market cap of $2.96 trillion, a P/E ratio of 47.78, a P/E/G ratio of 1.76 and a beta of 1.77. The company’s 50-day moving average price is $126.68 and its two-hundred day moving average price is $131.46. 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 (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays raised their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. HSBC decreased their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Benchmark restated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Susquehanna reiterated a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $171.51.

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.