Straight Path Wealth Management Acquires 658 Shares of NVIDIA Co. (NASDAQ:NVDA)

Straight Path Wealth Management raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 36.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,447 shares of the computer hardware maker’s stock after buying an additional 658 shares during the quarter. Straight Path Wealth Management’s holdings in NVIDIA were worth $329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Tacita Capital Inc bought a new position in NVIDIA during the 4th quarter worth about $28,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the fourth quarter worth about $34,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the fourth quarter worth about $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the fourth quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Summit Insights downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Wedbush reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. Benchmark restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $169.01.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 over the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 5.9 %

NASDAQ NVDA opened at $107.57 on Friday. The company has a market cap of $2.62 trillion, a price-to-earnings ratio of 42.33, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $119.10 and a 200-day moving average of $130.45.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

NVIDIA 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.