Redwood Wealth Management Group LLC Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Redwood Wealth Management Group LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,728 shares of the computer hardware maker’s stock after acquiring an additional 117 shares during the period. NVIDIA makes up approximately 1.5% of Redwood Wealth Management Group LLC’s portfolio, making the stock its 19th largest holding. Redwood Wealth Management Group LLC’s holdings in NVIDIA were worth $1,351,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $3,900,874,000. Moneta Group Investment Advisors LLC grew its stake in NVIDIA by 160,446.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares in the last quarter. International Assets Investment Management LLC boosted its stake in NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after buying an additional 16,835,703 shares during the last quarter. Morgan Stanley increased its holdings in shares of NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after buying an additional 4,621,002 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of NVIDIA by 55.7% in the 2nd quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock worth $3,240,769,000 after purchasing an additional 2,740,850 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the transaction, the director now owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction dated 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 completion of the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 12,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the transaction, the director now owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock valued at $52,689,898 over the last 90 days. 3.99% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $860.01 on Tuesday. The firm has a 50 day moving average of $834.27 and a two-hundred day moving average of $613.81. The stock has a market capitalization of $2.15 trillion, a PE ratio of 72.03, a P/E/G ratio of 1.27 and a beta of 1.73. 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 52 week low of $262.25 and a 52 week high of $974.00.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the business posted $0.65 earnings per share. NVIDIA’s revenue was up 265.3% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on NVDA. Jefferies Financial Group raised their price objective on shares of NVIDIA from $610.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Wells Fargo & Company boosted their price target on shares of NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. HSBC increased their target price on shares of NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,100.00 price target on shares of NVIDIA in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group lifted their price objective on NVIDIA from $875.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $926.30.

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.