Burling Wealth Partners LLC Takes $11.66 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Burling Wealth Partners LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 86,801 shares of the computer hardware maker’s stock, valued at approximately $11,656,000. NVIDIA comprises about 2.4% of Burling Wealth Partners LLC’s portfolio, making the stock its 10th biggest position.

A number of other large investors also recently modified their holdings of NVDA. SOA Wealth Advisors LLC. increased its holdings 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 valued at $14,650,000 after purchasing an additional 350 shares during the period. Principal Financial Group Inc. increased its holdings in NVIDIA by 3.7% in the third quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker’s stock valued at $4,326,576,000 after purchasing an additional 1,285,897 shares during the period. Weiss Asset Management LP acquired a new stake in NVIDIA in the third quarter valued at $31,925,000. Weaver Consulting Group increased its holdings in NVIDIA by 4.2% in the third quarter. Weaver Consulting Group now owns 23,839 shares of the computer hardware maker’s stock valued at $2,895,000 after purchasing an additional 963 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its holdings in NVIDIA by 20.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 4,898,685 shares of the computer hardware maker’s stock valued at $594,896,000 after purchasing an additional 816,988 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $135.40 on Monday. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The stock has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.29, a PEG ratio of 1.76 and a beta of 2.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm’s 50-day simple moving average is $112.33 and its 200 day simple moving average is $126.93.

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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. As a group, research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.36%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NVDA shares. Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Citigroup reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, April 16th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Susquehanna reiterated a “positive” rating and set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.84.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Company 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.