9,823 Shares in NVIDIA Co. (NASDAQ:NVDA) Purchased by Riggs Capital Management LLC

Riggs Capital Management LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,823 shares of the computer hardware maker’s stock, valued at approximately $1,319,000. NVIDIA makes up about 1.3% of Riggs Capital Management LLC’s portfolio, making the stock its 21st largest position.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on NVDA shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Raymond James reiterated a “strong-buy” rating on shares of NVIDIA in a research report on Wednesday, April 16th. Rosenblatt Securities decreased their target price on NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. KeyCorp set a $190.00 price target on NVIDIA in a report on Wednesday, March 19th. Finally, DA Davidson decreased their price objective on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $164.96.

NVIDIA Price Performance

NASDAQ:NVDA opened at $114.50 on Friday. 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 firm has a fifty day simple moving average of $110.85 and a 200 day simple moving average of $128.14. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. The stock has a market capitalization of $2.79 trillion, a PE ratio of 45.06, a P/E/G ratio of 1.76 and a beta of 1.96.

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

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,147 shares of company stock worth $17,133,207. Company 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.