Trace Wealth Advisors LLC Acquires Shares of 2,838 NVIDIA Co. (NASDAQ:NVDA)

Trace Wealth Advisors LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,838 shares of the computer hardware maker's stock, valued at approximately $381,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC lifted its position in NVIDIA by 8.5% during the fourth quarter. True Wealth Design LLC now owns 3,347 shares of the computer hardware maker's stock worth $450,000 after purchasing an additional 262 shares during the period. State of Wyoming raised its stake in NVIDIA by 113.5% during the fourth quarter. State of Wyoming now owns 85,056 shares of the computer hardware maker's stock worth $11,422,000 after acquiring an additional 45,214 shares in the last quarter. Stonebrook Private Inc. raised its stake in NVIDIA by 5.9% during the fourth quarter. Stonebrook Private Inc. now owns 56,194 shares of the computer hardware maker's stock worth $7,546,000 after acquiring an additional 3,132 shares in the last quarter. Strategic Global Advisors LLC raised its stake in NVIDIA by 7.1% during the fourth quarter. Strategic Global Advisors LLC now owns 223,747 shares of the computer hardware maker's stock worth $30,047,000 after acquiring an additional 14,787 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. raised its stake in NVIDIA by 20.9% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 101,828 shares of the computer hardware maker's stock worth $13,776,000 after acquiring an additional 17,632 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Trading Down 3.5%

Shares of NVIDIA stock traded down $4.91 on Friday, reaching $134.28. 332,224,842 shares of the company's stock were exchanged, compared to its average volume of 284,499,573. The company has a market capitalization of $3.28 trillion, a P/E ratio of 52.85, a price-to-earnings-growth 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. The firm's 50-day moving average is $115.48 and its two-hundred day moving average is $126.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

Insider Buying and Selling

In related news, Director John Dabiri sold 2,663 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 in the last ninety days. Corporate insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NVDA. Bank of America boosted their target price on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Mizuho boosted their target price on NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a research note on Thursday. Raymond James boosted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Thursday, April 3rd. Finally, Truist Financial upped their price objective on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $171.66.

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.