NVIDIA Co. (NASDAQ:NVDA) is National Wealth Management Group LLC’s 7th Largest Position

National Wealth Management Group LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,253 shares of the computer hardware maker’s stock after purchasing an additional 679 shares during the quarter. NVIDIA accounts for approximately 3.3% of National Wealth Management Group LLC’s holdings, making the stock its 7th biggest holding. National Wealth Management Group LLC’s holdings in NVIDIA were worth $4,888,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVDA. Legal & General Group Plc lifted its holdings in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased its position in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after purchasing an additional 2,042,348 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in NVIDIA by 3.5% during the third quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock valued at $11,745,763,000 after buying an additional 3,283,380 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of analyst reports. Redburn Atlantic assumed coverage on NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Benchmark restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Bank of America reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Stock Down 3.0 %

Shares of NVDA opened at $135.91 on Monday. The company’s 50-day moving average price is $139.90 and its 200 day moving average price is $128.70. NVIDIA Co. has a 12-month low of $53.56 and a 12-month high of $153.13. 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 firm has a market cap of $3.33 trillion, a P/E ratio of 53.49, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. On average, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by corporate 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.