Burling Wealth Partners LLC Makes New $11.66 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Burling Wealth Partners LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 86,801 shares of the computer hardware maker’s stock, valued at approximately $11,656,000. NVIDIA makes up approximately 2.4% of Burling Wealth Partners LLC’s portfolio, making the stock its 10th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. SOA Wealth Advisors LLC. raised its stake in shares of NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after purchasing an additional 350 shares during the period. Principal Financial Group Inc. raised its stake in shares of NVIDIA by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker’s stock valued at $4,326,576,000 after purchasing an additional 1,285,897 shares during the period. Weiss Asset Management LP acquired a new stake in shares of NVIDIA in the 3rd quarter valued at about $31,925,000. Weaver Consulting Group raised its stake in shares of NVIDIA by 4.2% in the 3rd quarter. Weaver Consulting Group now owns 23,839 shares of the computer hardware maker’s stock valued at $2,895,000 after purchasing an additional 963 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its position in shares of NVIDIA by 20.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 4,898,685 shares of the computer hardware maker’s stock valued at $594,896,000 after acquiring an additional 816,988 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 0.4%

Shares of NVDA stock opened at $135.40 on Monday. 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 stock has a market cap of $3.31 trillion, a P/E ratio of 53.29, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The stock has a 50 day simple moving average of $112.33 and a 200 day simple moving average of $126.93. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95.

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

NVIDIA Announces Dividend

The business also recently declared 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 dividend yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s 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 completion of the sale, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 over the last three months. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several analyst reports. Raymond James reiterated a “strong-buy” rating on shares of NVIDIA in a report on Wednesday, April 16th. Truist Financial upped their target price on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Bank of America upped their target price on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Morgan Stanley dropped their target price on NVIDIA from $162.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Finally, TD Cowen dropped their target price on NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.84.

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.