Anchor Pointe Wealth Management LLC Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

Anchor Pointe Wealth Management LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,271 shares of the computer hardware maker's stock, valued at approximately $1,550,000. NVIDIA comprises about 2.0% of Anchor Pointe Wealth Management LLC's investment portfolio, making the stock its 15th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Tacita Capital Inc bought a new position in NVIDIA during the 4th quarter valued at about $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $40,000. Copia Wealth Management bought a new position in shares of NVIDIA in the fourth quarter worth about $50,000. Finally, LSV Asset Management bought a new position in shares of NVIDIA in the fourth quarter worth about $54,000. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,257,983 shares of company stock worth $172,973,349. 4.17% of the stock is owned by insiders.

NVIDIA Stock Up 1.2%

NVIDIA stock opened at $141.72 on Friday. The stock has a market capitalization of $3.46 trillion, a PE ratio of 55.77, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $118.45 and a 200-day moving average of $126.38.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given 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 of this dividend is Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 target price (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Mizuho boosted their target price on shares of NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Citigroup reaffirmed a "buy" rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $171.66.

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.

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