Avaii Wealth Management LLC Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Avaii Wealth Management LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 228.2% during the fourth quarter, Holdings Channel reports. The fund owned 2,235 shares of the computer hardware maker’s stock after buying an additional 1,554 shares during the period. NVIDIA comprises about 0.7% of Avaii Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position. Avaii Wealth Management LLC’s holdings in NVIDIA were worth $1,107,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Lodestar Private Asset Management LLC boosted its holdings in NVIDIA by 1.0% in the fourth quarter. Lodestar Private Asset Management LLC now owns 1,652 shares of the computer hardware maker’s stock valued at $818,000 after acquiring an additional 17 shares in the last quarter. Campbell Newman Asset Management Inc. lifted its position in shares of NVIDIA by 0.6% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock worth $1,481,000 after purchasing an additional 18 shares during the period. Kraft Davis & Associates LLC boosted its stake in shares of NVIDIA by 0.6% during the 4th quarter. Kraft Davis & Associates LLC now owns 3,048 shares of the computer hardware maker’s stock valued at $1,509,000 after purchasing an additional 18 shares in the last quarter. IAG Wealth Partners LLC increased its position in shares of NVIDIA by 4.4% during the fourth quarter. IAG Wealth Partners LLC now owns 430 shares of the computer hardware maker’s stock valued at $213,000 after buying an additional 18 shares during the period. Finally, Aprio Wealth Management LLC raised its stake in NVIDIA by 1.8% in the fourth quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock worth $523,000 after buying an additional 19 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA opened at $905.54 on Wednesday. NVIDIA Co. has a one year low of $280.46 and a one year high of $974.00. The business has a fifty day moving average of $872.36 and a 200 day moving average of $659.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The firm has a market capitalization of $2.26 trillion, a P/E ratio of 75.84, a PEG ratio of 1.27 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 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 analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. As a group, sell-side analysts anticipate that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Announces Dividend

The firm 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 was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.

Insider Activity

In related news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the sale, the director now directly owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock valued at $52,689,898 in the last 90 days. Company insiders own 3.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVDA. Argus upped their target price on NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Susquehanna reaffirmed a “positive” rating and issued a $1,050.00 price target on shares of NVIDIA in a research note on Thursday, April 4th. DA Davidson raised their price objective on NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $900.00 target price on shares of NVIDIA in a research report on Monday, March 4th. Finally, Wells Fargo & Company lifted their price target on shares of NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.05.

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.