Kingsview Wealth Management LLC Acquires 11,749 Shares of NVIDIA Co. (NASDAQ:NVDA)

Kingsview Wealth Management LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 13.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 99,179 shares of the computer hardware maker’s stock after purchasing an additional 11,749 shares during the period. NVIDIA accounts for 1.5% of Kingsview Wealth Management LLC’s portfolio, making the stock its 9th biggest position. Kingsview Wealth Management LLC’s holdings in NVIDIA were worth $49,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in NVDA. Perfromance Wealth Partners LLC increased its position in shares of NVIDIA by 31.4% during the 3rd quarter. Perfromance Wealth Partners LLC now owns 6,725 shares of the computer hardware maker’s stock worth $2,925,000 after purchasing an additional 1,606 shares during the last quarter. Choate Investment Advisors increased its holdings in NVIDIA by 42.6% during the third quarter. Choate Investment Advisors now owns 29,797 shares of the computer hardware maker’s stock worth $12,961,000 after buying an additional 8,902 shares during the last quarter. Psagot Value Holdings Ltd. Israel raised its position in NVIDIA by 7.5% during the third quarter. Psagot Value Holdings Ltd. Israel now owns 9,093 shares of the computer hardware maker’s stock worth $3,918,000 after acquiring an additional 635 shares in the last quarter. Klingman & Associates LLC lifted its stake in NVIDIA by 42.3% in the third quarter. Klingman & Associates LLC now owns 2,205 shares of the computer hardware maker’s stock valued at $959,000 after acquiring an additional 655 shares during the last quarter. Finally, QCM Cayman Ltd. bought a new position in shares of NVIDIA in the 3rd quarter valued at about $1,145,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NVDA shares. Bank of America raised their target price on shares of NVIDIA from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. CICC Research assumed coverage on NVIDIA in a report on Wednesday, March 6th. They set an “outperform” rating and a $870.00 target price on the stock. Citigroup raised their price target on NVIDIA from $820.00 to $1,030.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Susquehanna upped their price objective on shares of NVIDIA from $1,050.00 to $1,100.00 and gave the company a “positive” rating in a report on Monday. Finally, Morgan Stanley raised their target price on shares of NVIDIA from $795.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.18.

NVIDIA Stock Down 0.5 %

Shares of NVDA opened at $949.50 on Thursday. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 79.52, a PEG ratio of 1.33 and a beta of 1.75. NVIDIA Co. has a 52 week low of $298.06 and a 52 week high of $974.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The stock has a fifty day moving average of $886.29 and a 200-day moving average of $696.36.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. The firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Co. will post 23.18 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be given a $0.10 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio is 1.34%.

Insider Activity

In related news, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,278 shares of company stock valued at $52,689,898. 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.