Hobbs Wealth Management LLC Purchases Shares of 9,099 NVIDIA Co. (NASDAQ:NVDA)

Hobbs Wealth Management LLC acquired a new stake in NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 9,099 shares of the computer hardware maker’s stock, valued at approximately $1,222,000. NVIDIA accounts for 1.4% of Hobbs Wealth Management LLC’s investment portfolio, making the stock its 15th largest holding.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA during the 4th quarter worth about $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the fourth quarter worth approximately $34,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the fourth quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at $46,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Wedbush reissued an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Susquehanna reaffirmed a “positive” rating and set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Mizuho cut their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Friday, March 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.96.

NVIDIA Stock Down 0.6 %

NVDA stock opened at $116.65 on Friday. The firm has a market cap of $2.85 trillion, a price-to-earnings ratio of 45.91, a PEG ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. The firm has a fifty day moving average price of $110.29 and a two-hundred day moving average price of $127.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Research analysts predict that NVIDIA Co. will post 2.77 EPS for the current 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 issued 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 1.36%.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the 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 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 represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This represents a 0.93 % 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 in the last 90 days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Company 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.