Sterneck Capital Management LLC Purchases 1,266 Shares of NVIDIA Co. (NASDAQ:NVDA)

Sterneck Capital Management LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 56.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,505 shares of the computer hardware maker’s stock after purchasing an additional 1,266 shares during the quarter. Sterneck Capital Management LLC’s holdings in NVIDIA were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Ironwood Wealth Management LLC. raised its position in shares of NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after acquiring an additional 5,695 shares during the period. Financial Guidance Group Inc. raised its holdings in NVIDIA by 900.0% in the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 3,240 shares during the period. Tobam boosted its position in shares of NVIDIA by 811.4% during the second quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock worth $5,126,000 after purchasing an additional 36,937 shares in the last quarter. Heritage Family Offices LLP acquired a new position in shares of NVIDIA in the 2nd quarter valued at $257,000. Finally, Abacus Planning Group Inc. increased its position in shares of NVIDIA by 1,194.4% in the 2nd quarter. Abacus Planning Group Inc. now owns 28,231 shares of the computer hardware maker’s stock valued at $3,488,000 after buying an additional 26,050 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last three months. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 3.1 %

Shares of NASDAQ NVDA opened at $142.62 on Friday. The stock has a market capitalization of $3.49 trillion, a P/E ratio of 56.13, a PEG ratio of 2.65 and a beta of 1.64. The stock’s fifty day moving average is $138.72 and its 200 day moving average is $129.57. NVIDIA Co. has a 52 week low of $60.57 and a 52 week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 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 last year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler boosted their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Robert W. Baird raised their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Mizuho upped their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lifted their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley increased their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.63.

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.