Chokshi & Queen Wealth Advisors Inc acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 83,564 shares of the computer hardware maker's stock, valued at approximately $11,222,000. NVIDIA makes up about 7.0% of Chokshi & Queen Wealth Advisors Inc's holdings, making the stock its 4th largest position.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Instrumental Wealth LLC boosted its holdings in NVIDIA by 8.1% during the fourth quarter. Instrumental Wealth LLC now owns 10,228 shares of the computer hardware maker's stock worth $1,375,000 after buying an additional 768 shares in the last quarter. Wilkins Miller Wealth Management LLC purchased a new stake in NVIDIA during the fourth quarter worth about $252,000. Hall Capital Management Co. Inc. purchased a new stake in NVIDIA during the fourth quarter worth about $1,199,000. Liberty Square Wealth Partners LLC purchased a new stake in NVIDIA during the fourth quarter worth about $2,679,000. Finally, Great Valley Advisor Group Inc. boosted its holdings in NVIDIA by 4.0% during the fourth quarter. Great Valley Advisor Group Inc. now owns 1,165,258 shares of the computer hardware maker's stock worth $156,483,000 after buying an additional 44,786 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.
Wall Street Analyst Weigh In
NVDA has been the topic of several recent research reports. Mizuho upped their price target on shares of NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday. Hsbc Global Res downgraded 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, HSBC downgraded shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and an average target price of $171.66.
Get Our Latest Analysis on NVDA
NVIDIA Stock Performance
Shares of NVIDIA stock traded down $4.91 during trading hours on Friday, reaching $134.28. The company's stock had a trading volume of 332,224,842 shares, compared to its average volume of 285,804,787. The company's 50 day simple moving average is $115.48 and its 200 day simple moving average is $126.52. 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 Co. has a one year low of $86.62 and a one year high of $195.95. The stock has a market cap 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 (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 during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The company's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently disclosed 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. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.
Insider Buying and Selling
In related 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 value of $6,158,388.76. Following the sale, the director now owns 251,044 shares of the company's stock, valued at $28,993,071.56. This trade represents a 17.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11% 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 in the last quarter. Company insiders own 4.17% of the company's stock.
NVIDIA Company Profile
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Free Report)
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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