Life Planning Partners Inc Takes $6.31 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Life Planning Partners Inc purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, HoldingsChannel reports. The firm purchased 47,002 shares of the computer hardware maker’s stock, valued at approximately $6,312,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $34,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the fourth quarter valued at approximately $40,000. DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the fourth quarter valued at approximately $46,000. Finally, 1620 Investment Advisors Inc. increased its stake in NVIDIA by 145.9% in the third 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. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the company’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 sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. HSBC decreased their price objective on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Rosenblatt Securities reissued a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research note on Monday, February 24th. Evercore ISI boosted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Robert W. Baird boosted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Wedbush reiterated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Trading Up 5.3 %

NASDAQ:NVDA opened at $121.67 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a 50-day moving average of $129.26 and a 200-day moving average of $131.23. The company has a market cap of $2.97 trillion, a PE ratio of 47.88, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a one year low of $75.61 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

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.