Hobbs Wealth Management LLC Makes New $1.22 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Hobbs Wealth Management LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,099 shares of the computer hardware maker's stock, valued at approximately $1,222,000. NVIDIA accounts for approximately 1.4% of Hobbs Wealth Management LLC's investment portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVDA. Coign Capital Advisors LLC purchased a new stake in NVIDIA in the 4th quarter worth $1,486,000. Heritage Trust Co purchased a new stake in shares of NVIDIA during the fourth quarter worth about $9,022,000. Seneschal Advisors LLC bought a new stake in NVIDIA during the 4th quarter valued at approximately $277,000. Tandem Wealth Advisors LLC lifted its holdings in NVIDIA by 12.8% in the 4th quarter. Tandem Wealth Advisors LLC now owns 5,770 shares of the computer hardware maker's stock worth $775,000 after purchasing an additional 655 shares in the last quarter. Finally, Prepared Retirement Institute LLC boosted its stake in NVIDIA by 3.9% in the 4th quarter. Prepared Retirement Institute LLC now owns 5,574 shares of the computer hardware maker's stock worth $749,000 after purchasing an additional 211 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Activity

In other news, CFO Colette Kress sold 66,660 shares of the firm'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 completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

NASDAQ:NVDA traded down $0.72 during mid-day trading on Friday, hitting $116.65. The stock had a trading volume of 132,620,250 shares, compared to its average volume of 296,326,827. 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 company has a 50 day simple moving average of $110.29 and a 200-day simple moving average of $127.28. The stock has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 45.91, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 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 business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is 1.36%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. William Blair reiterated an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Bank of America decreased their target price on NVIDIA from $200.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Thursday, April 3rd. Finally, Barclays cut their target price on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $164.96.

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.