EverSource Wealth Advisors LLC Purchases 9,935 Shares of NVIDIA Co. (NASDAQ:NVDA)

EverSource Wealth Advisors LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,635 shares of the computer hardware maker’s stock after acquiring an additional 9,935 shares during the period. NVIDIA makes up 1.5% of EverSource Wealth Advisors LLC’s portfolio, making the stock its 11th biggest holding. EverSource Wealth Advisors LLC’s holdings in NVIDIA were worth $23,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. DiNuzzo Private Wealth Inc. raised its stake in shares of NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 71 shares during the last quarter. Smart Portfolios LLC raised its position in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC boosted its stake in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares in the last quarter. Baker Boyer National Bank grew its holdings in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 76 shares during the last quarter. Finally, Kwmg LLC increased its stake in shares of NVIDIA by 0.6% in the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after buying an additional 77 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction dated 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 directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last ninety days. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of several research reports. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. DA Davidson reduced their price objective on NVIDIA from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday. Finally, HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.64.

NVIDIA Trading Down 6.9 %

NVDA opened at $104.49 on Thursday. The firm’s fifty day simple moving average is $117.83 and its 200 day simple moving average is $130.03. The stock has a market capitalization of $2.55 trillion, a P/E ratio of 41.12, 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 12 month low of $75.61 and a 12 month high of $195.95.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is currently 1.36%.

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.