Centric Wealth Management Has $5.16 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Centric Wealth Management raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 23.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 42,460 shares of the computer hardware maker’s stock after acquiring an additional 8,181 shares during the period. NVIDIA comprises about 1.3% of Centric Wealth Management’s investment portfolio, making the stock its 13th largest holding. Centric Wealth Management’s holdings in NVIDIA were worth $5,156,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of NVIDIA during the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA during the third quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA during the second quarter valued at approximately $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA during the third quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Evercore ISI increased their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Susquehanna increased their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, DA Davidson raised their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.27.

NVIDIA Stock Down 2.0 %

Shares of NVDA stock opened at $133.23 on Tuesday. 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 $54.74 and a 1 year high of $153.13. The firm’s fifty day moving average price is $139.84 and its two-hundred day moving average price is $128.76. The firm has a market capitalization of $3.26 trillion, a P/E ratio of 52.43, a PEG ratio of 2.43 and a beta of 1.64.

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

NVIDIA Dividend Announcement

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

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.