Rialto Wealth Management LLC Makes New $3.09 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Rialto Wealth Management LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 23,028 shares of the computer hardware maker’s stock, valued at approximately $3,092,000. NVIDIA comprises 1.0% of Rialto Wealth Management LLC’s portfolio, making the stock its 24th biggest position.

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

NVIDIA Stock Performance

NVIDIA stock opened at $110.93 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $2.71 trillion, a P/E ratio of 43.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95. The firm’s 50 day simple moving average is $118.95 and its 200-day simple moving average is $130.36.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm 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. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NVDA shares. Morgan Stanley set a $162.00 price target on NVIDIA and gave the stock an “overweight” rating in a report on Wednesday, March 19th. KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. TD Cowen dropped their price objective on shares of NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Bank of America restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $168.39.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. This represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by company insiders.

About NVIDIA

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.