NVIDIA Co. (NASDAQ:NVDA) Stake Raised by Drive Wealth Management LLC

Drive Wealth Management LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,219 shares of the computer hardware maker’s stock after acquiring an additional 479 shares during the period. NVIDIA comprises about 1.8% of Drive Wealth Management LLC’s holdings, making the stock its 11th largest holding. Drive Wealth Management LLC’s holdings in NVIDIA were worth $6,523,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Retirement Solution Inc. purchased a new stake in shares of NVIDIA during the 3rd quarter worth about $202,000. Veery Capital LLC raised its stake in shares of NVIDIA by 28.0% during the 3rd quarter. Veery Capital LLC now owns 700 shares of the computer hardware maker’s stock worth $304,000 after purchasing an additional 153 shares in the last quarter. Cooper Financial Group raised its stake in shares of NVIDIA by 3.8% during the 3rd quarter. Cooper Financial Group now owns 10,259 shares of the computer hardware maker’s stock worth $4,462,000 after purchasing an additional 380 shares in the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of NVIDIA by 4.1% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 3,163 shares of the computer hardware maker’s stock worth $1,376,000 after purchasing an additional 125 shares in the last quarter. Finally, Scharf Investments LLC purchased a new stake in shares of NVIDIA during the 3rd quarter worth about $1,511,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the transaction, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock valued at $52,689,898 over the last 90 days. 3.99% of the stock is owned by company insiders.

NVIDIA Price Performance

NVDA traded up $51.03 during trading on Friday, hitting $877.35. The company’s stock had a trading volume of 54,877,793 shares, compared to its average volume of 43,852,452. The firm’s 50 day moving average price is $854.40 and its two-hundred day moving average price is $635.34. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. NVIDIA Co. has a 12 month low of $266.25 and a 12 month high of $974.00. The stock has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 73.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $1,000.00 price objective on shares of NVIDIA in a research note on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $720.00 to $850.00 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Loop Capital assumed coverage on NVIDIA in a research note on Friday, February 16th. They issued a “buy” rating and a $1,200.00 price objective on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $910.00 price objective on shares of NVIDIA in a research note on Wednesday, March 20th. Finally, Wolfe Research raised their price objective on NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $940.30.

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.