Providence First Trust Co Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Providence First Trust Co raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 15.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 39,083 shares of the computer hardware maker’s stock after acquiring an additional 5,309 shares during the period. NVIDIA comprises about 2.0% of Providence First Trust Co’s portfolio, making the stock its 14th largest holding. Providence First Trust Co’s holdings in NVIDIA were worth $5,248,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter worth about $34,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the fourth quarter worth approximately $40,000. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $46,000. 1620 Investment Advisors Inc. boosted 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 acquiring an additional 248 shares during the last quarter. Finally, Gleason Group Inc. raised its stake in NVIDIA by 52.9% during the 4th quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock valued at $58,000 after buying an additional 148 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were 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. This trade represents a 17.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,609 shares of company stock worth $22,642,615 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $94.31 on Friday. The business’s 50-day moving average is $121.20 and its two-hundred day moving average is $131.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $2.30 trillion, a P/E ratio of 37.12, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95.

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 the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis 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%.

Analysts Set New Price Targets

NVDA has been the subject of several analyst reports. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. DA Davidson reduced their price target on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Susquehanna reissued a “positive” rating and set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.89.

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.