Gray Wealth Management Inc. Acquires 22 Shares of NVIDIA Co. (NASDAQ:NVDA)

Gray Wealth Management Inc. boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.7% in the fourth quarter, HoldingsChannel reports. The firm owned 845 shares of the computer hardware maker’s stock after purchasing an additional 22 shares during the period. Gray Wealth Management Inc.’s holdings in NVIDIA were worth $418,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NVDA. HT Partners LLC increased its holdings in NVIDIA by 5.9% in the third quarter. HT Partners LLC now owns 2,018 shares of the computer hardware maker’s stock worth $878,000 after purchasing an additional 112 shares in the last quarter. Clarus Group Inc. grew its stake in NVIDIA by 1.0% in the third quarter. Clarus Group Inc. now owns 3,910 shares of the computer hardware maker’s stock valued at $1,701,000 after acquiring an additional 40 shares during the period. Everence Capital Management Inc. grew its stake in NVIDIA by 1.0% in the third quarter. Everence Capital Management Inc. now owns 63,176 shares of the computer hardware maker’s stock valued at $27,481,000 after acquiring an additional 600 shares during the period. Legacy Trust grew its stake in NVIDIA by 2.0% in the third quarter. Legacy Trust now owns 3,964 shares of the computer hardware maker’s stock valued at $1,724,000 after acquiring an additional 76 shares during the period. Finally, Community Trust & Investment Co. grew its stake in NVIDIA by 14.2% in the third quarter. Community Trust & Investment Co. now owns 57,356 shares of the computer hardware maker’s stock valued at $24,949,000 after acquiring an additional 7,125 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $896,494,891.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $877.35 on Friday. 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 Co. has a 1 year low of $266.25 and a 1 year high of $974.00. The firm has a market cap of $2.19 trillion, a PE ratio of 73.48, a PEG ratio of 1.18 and a beta of 1.73. The stock’s fifty day moving average price is $854.40 and its two-hundred day moving average price is $636.58.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 company had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 265.3% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed 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

A number of brokerages have commented on NVDA. Citigroup raised their price objective on NVIDIA from $820.00 to $1,030.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Craig Hallum raised their price objective on NVIDIA from $700.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Argus raised their price objective on NVIDIA from $850.00 to $950.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their target price on NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, Piper Sandler Companies lifted their target price on NVIDIA to $850.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $940.30.

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.