Pitti Group Wealth Management LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Pitti Group Wealth Management LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 631.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,050 shares of the computer hardware maker’s stock after acquiring an additional 13,857 shares during the quarter. NVIDIA comprises about 2.2% of Pitti Group Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Pitti Group Wealth Management LLC’s holdings in NVIDIA were worth $2,155,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Tacita Capital Inc acquired a new stake in NVIDIA in the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the 4th quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the 4th quarter worth $46,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on NVDA shares. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Susquehanna reaffirmed a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Raymond James reissued a “strong-buy” rating on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $165.51.

NVIDIA Stock Down 4.5 %

NVDA stock opened at $96.91 on Tuesday. The company’s 50 day moving average is $115.87 and its two-hundred day moving average is $129.71. NVIDIA Co. has a twelve month low of $76.40 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 stock has a market cap of $2.36 trillion, a P/E ratio of 38.14, a PEG ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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. Research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

Insider Activity

In other 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 ownership of the stock. The sale 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 business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 in the last ninety days. 4.23% of the stock is currently owned by company 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.