Phoenix Wealth Advisors Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Phoenix Wealth Advisors lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,383 shares of the computer hardware maker’s stock after purchasing an additional 37 shares during the quarter. Phoenix Wealth Advisors’ holdings in NVIDIA were worth $666,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA purchased a new position in shares of NVIDIA in the 4th quarter valued at $28,000. Your Advocates Ltd. LLP purchased a new position in NVIDIA in the third quarter valued at about $30,000. Trivant Custom Portfolio Group LLC boosted its position in shares of NVIDIA by 44.1% in the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after buying an additional 30 shares during the period. O Brien Wealth Partners LLC raised its holdings in shares of NVIDIA by 139.5% during the 4th quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock valued at $45,000 after buying an additional 53 shares during the period. Finally, Beacon Capital Management Inc. acquired a new position in NVIDIA during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NVDA. Wedbush reaffirmed an “outperform” rating and issued a $1,000.00 price objective on shares of NVIDIA in a research report on Tuesday, March 19th. Needham & Company LLC lifted their price target on shares of NVIDIA from $600.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Evercore ISI assumed coverage on shares of NVIDIA in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,160.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,100.00 target price on shares of NVIDIA in a research report on Tuesday, February 20th. Finally, Sanford C. Bernstein increased their price target on NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $940.30.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the transaction, the director now owns 1,119,583 shares in the company, valued at $896,494,891.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the sale, the director now owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock valued at $52,689,898 in the last three months. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $826.32 on Friday. The company has a 50 day simple moving average of $851.37 and a 200-day simple moving average of $632.39. NVIDIA Co. has a 52-week low of $266.25 and a 52-week high of $974.00. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 69.21, a price-to-earnings-growth ratio of 1.14 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

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, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The company’s revenue was up 265.3% compared to the same quarter last year. Equities research analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

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.