DORCHESTER WEALTH MANAGEMENT Co Invests $2.60 Million in NVIDIA Co. (NASDAQ:NVDA)

DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, Holdings Channel reports. The fund bought 19,324 shares of the computer hardware maker’s stock, valued at approximately $2,595,000.

Several other hedge funds also recently added to or reduced their stakes in NVDA. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the fourth quarter worth about $34,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the 4th quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. grew its stake 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 purchasing an additional 140 shares during the period. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. increased its holdings in shares of NVIDIA by 145.9% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after purchasing an additional 248 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 1.6 %

NVDA opened at $109.67 on Friday. The stock has a market capitalization of $2.68 trillion, a PE ratio of 43.16, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a one year low of $75.61 and a one year high of $195.95. The business’s 50 day moving average price is $125.01 and its 200 day moving average price is $131.50.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 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, equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s payout ratio is presently 1.36%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. Wedbush restated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. Barclays lifted their price target on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. William Blair reiterated an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday, March 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Four equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $171.51.

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.