NVIDIA Co. (NASDAQ:NVDA) is 1776 Wealth LLC’s 8th Largest Position

1776 Wealth LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 48,416 shares of the computer hardware maker’s stock after acquiring an additional 525 shares during the quarter. NVIDIA comprises approximately 2.8% of 1776 Wealth LLC’s holdings, making the stock its 8th largest position. 1776 Wealth LLC’s holdings in NVIDIA were worth $6,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Group Ltd. boosted its holdings in shares of NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after acquiring an additional 265 shares during the period. SOA Wealth Advisors LLC. raised its position in NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after acquiring an additional 350 shares in the last quarter. Swedbank AB grew its position in NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after buying an additional 1,868,358 shares during the period. Quintet Private Bank Europe S.A. boosted its position in shares of NVIDIA by 6.5% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 1,675,393 shares of the computer hardware maker’s stock worth $203,460,000 after buying an additional 102,869 shares in the last quarter. Finally, Arlington Capital Management Inc. increased its stake in shares of NVIDIA by 2.5% during the 3rd quarter. Arlington Capital Management Inc. now owns 62,318 shares of the computer hardware maker’s stock worth $7,568,000 after purchasing an additional 1,512 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. KeyCorp set a $190.00 price target on NVIDIA in a report on Wednesday, March 19th. UBS Group decreased their target price on NVIDIA from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday. HSBC cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Thursday, April 3rd. Wedbush reiterated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Wednesday. Finally, Piper Sandler decreased their price objective on shares of NVIDIA from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.51.

NVIDIA Stock Performance

NVIDIA stock opened at $101.33 on Friday. 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 1-year low of $75.61 and a 1-year high of $195.95. The firm has a market cap of $2.47 trillion, a P/E ratio of 39.88, a P/E/G ratio of 1.76 and a beta of 1.96. The firm has a 50-day moving average of $117.19 and a 200-day moving average of $129.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. Sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business 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. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

Insider Buying and Selling at NVIDIA

In other 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 sale, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were 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 directly owns 479,428 shares of the company’s stock, valued at $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. Insiders sold 147,147 shares of company stock worth $17,133,207 over the last 90 days. 4.23% of the stock is owned by insiders.

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.