SVB Wealth LLC Purchases Shares of 364,542 NVIDIA Co. (NASDAQ:NVDA)

SVB Wealth LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, HoldingsChannel reports. The fund acquired 364,542 shares of the computer hardware maker’s stock, valued at approximately $48,954,000. NVIDIA makes up about 0.9% of SVB Wealth LLC’s investment portfolio, making the stock its 13th largest holding.

Other large investors have also made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the fourth quarter worth $34,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA during the 4th quarter valued at $40,000. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the 4th quarter worth $46,000. 1620 Investment Advisors Inc. increased its holdings in NVIDIA by 145.9% in 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. Finally, Gleason Group Inc. raised its position in NVIDIA by 52.9% in the fourth quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock valued at $58,000 after purchasing an additional 148 shares during the period. 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 firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,609 shares of company stock valued at $22,642,615. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NVDA. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Finally, KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Five analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $169.89.

NVIDIA Trading Down 7.4 %

Shares of NASDAQ NVDA opened at $94.31 on Friday. The company has a market cap of $2.30 trillion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The stock’s 50 day simple moving average is $121.20 and its 200 day simple moving average is $130.96. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $195.95.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating 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 company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 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.