Wealthedge Investment Advisors LLC Acquires Shares of 42,923 NVIDIA Co. (NASDAQ:NVDA)

Wealthedge Investment Advisors LLC acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 42,923 shares of the computer hardware maker’s stock, valued at approximately $5,764,000. NVIDIA comprises about 2.6% of Wealthedge Investment Advisors LLC’s portfolio, making the stock its 8th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp raised its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $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.

Insider Activity

In other NVIDIA news, 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 completion of the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,257,983 shares of company stock worth $172,973,349. Corporate insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVDA. Bank of America increased their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Benchmark reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Piper Sandler reissued an “overweight” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. HSBC cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Finally, Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $171.66.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $141.72 on Friday. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. 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 company has a 50-day moving average of $118.45 and a 200-day moving average of $126.38. The firm has a market cap of $3.46 trillion, a price-to-earnings ratio of 55.77, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the business posted $0.61 EPS. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders 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 (DPR) is 1.29%.

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.