Riggs Capital Management LLC Purchases Shares of 9,823 NVIDIA Co. (NASDAQ:NVDA)

Riggs Capital Management LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,823 shares of the computer hardware maker's stock, valued at approximately $1,319,000. NVIDIA comprises about 1.3% of Riggs Capital Management LLC's investment portfolio, making the stock its 21st largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. increased its holdings in NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after buying an additional 71 shares during the period. Palisade Asset Management LLC boosted its position in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after acquiring an additional 75 shares in the last quarter. Baker Boyer National Bank boosted its position in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after acquiring an additional 76 shares in the last quarter. Kwmg LLC increased its stake in NVIDIA by 0.6% in the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock valued at $1,755,000 after acquiring an additional 77 shares during the last quarter. Finally, SC&H Financial Advisors Inc. raised its position in NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock valued at $681,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NVDA shares. Raymond James reiterated a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday, April 16th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research report on Friday, April 25th. Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. Finally, KeyCorp set a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. One equities research 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Stock Up 2.6 %

NVDA traded up $2.89 during mid-day trading on Friday, reaching $114.50. 189,662,858 shares of the stock were exchanged, compared to its average volume of 300,427,940. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a 50 day moving average price of $110.85 and a two-hundred day moving average price of $128.14. The stock has a market capitalization of $2.79 trillion, a PE ratio of 45.06, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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 return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. As a group, research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is 1.36%.

Insider Activity

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares of the company's stock, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction on Friday, March 21st. The shares were 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 owns 3,085,765 shares in the company, valued at approximately $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 valued at $17,133,207 in the last three months. Company insiders own 4.23% of the company's stock.

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.