Trace Wealth Advisors LLC Takes $381,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Trace Wealth Advisors LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,838 shares of the computer hardware maker’s stock, valued at approximately $381,000.

A number of other large investors also recently modified their holdings of NVDA. FMR LLC increased its holdings in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its holdings in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank acquired a new stake in NVIDIA in the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp increased its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

NVIDIA stock opened at $134.28 on Friday. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $195.95. The company’s 50 day moving average price is $115.48 and its two-hundred day moving average price is $126.52. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.28 trillion, a P/E ratio of 52.85, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the business earned $0.61 EPS. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Thursday, April 3rd. Arete Research upgraded NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Wednesday. Finally, Bank of America increased their price target on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $171.66.

Insiders Place Their Bets

In related news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA 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 completion of the sale, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 in the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

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.