Tower Wealth Partners Inc. Invests $223,000 in NVIDIA Co. (NASDAQ:NVDA)

Tower Wealth Partners Inc. bought a new stake in NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,661 shares of the computer hardware maker’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Hickory Point Bank & Trust bought a new stake in NVIDIA during the fourth quarter worth about $2,272,000. Capital Performance Advisors LLP increased its position in shares of NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Ethos Financial Group LLC raised its stake in shares of NVIDIA by 24.1% during the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock worth $4,312,000 after purchasing an additional 6,241 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of NVIDIA by 3.6% during the 4th quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker’s stock worth $196,711,000 after purchasing an additional 50,978 shares in the last quarter. Finally, Palisade Asset Management LLC boosted its holdings in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after buying an additional 75 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Wedbush restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, February 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. KeyCorp set a $190.00 price target on NVIDIA in a research report on Wednesday, March 19th. Finally, TD Cowen cut their price objective on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $168.26.

NVIDIA Stock Performance

NASDAQ NVDA opened at $110.71 on Tuesday. The firm’s 50 day simple moving average is $118.67 and its 200 day simple moving average is $130.33. The firm has a market capitalization of $2.70 trillion, a price-to-earnings ratio of 43.57, a P/E/G ratio of 1.76 and a beta of 1.96. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $195.95.

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

NVIDIA Dividend Announcement

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

Insider Activity

In other news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,147 shares of company stock worth $17,133,207. Corporate insiders own 4.23% of the company’s stock.

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.