Pitti Group Wealth Management LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Pitti Group Wealth Management LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 631.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,050 shares of the computer hardware maker’s stock after buying an additional 13,857 shares during the quarter. NVIDIA comprises approximately 2.2% of Pitti Group Wealth Management LLC’s holdings, making the stock its 11th largest holding. Pitti Group Wealth Management LLC’s holdings in NVIDIA were worth $2,155,000 at the end of the most recent reporting period.

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

NVIDIA Stock Performance

NVDA opened at $96.91 on Tuesday. The firm has a 50 day moving average of $115.87 and a two-hundred day moving average of $129.71. The firm has a market capitalization of $2.36 trillion, a PE ratio of 38.14, 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 $76.40 and a 12-month high of $195.95.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating 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 net margin of 55.69% and a return on equity of 114.83%. On average, analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

NVDA has been the topic of several research reports. Benchmark restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Wedbush restated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Truist Financial increased their target price on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. DA Davidson lowered their price target on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $165.51.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction 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 sale, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 in the last 90 days. 4.23% of the stock is currently owned by company insiders.

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.