Parkshore Wealth Management Inc. Invests $940,000 in NVIDIA Co. (NASDAQ:NVDA)

Parkshore Wealth Management 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 filing with the Securities and Exchange Commission. The institutional investor acquired 7,000 shares of the computer hardware maker's stock, valued at approximately $940,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVDA. SOA Wealth Advisors LLC. raised its stake in shares of NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock worth $14,650,000 after purchasing an additional 350 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of NVIDIA by 3.7% during the 3rd quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker's stock worth $4,326,576,000 after purchasing an additional 1,285,897 shares in the last quarter. Abel Hall LLC raised its stake in shares of NVIDIA by 4.5% during the 3rd quarter. Abel Hall LLC now owns 27,718 shares of the computer hardware maker's stock worth $3,366,000 after purchasing an additional 1,199 shares in the last quarter. Guardian Wealth Management Inc. raised its stake in shares of NVIDIA by 428.5% during the 3rd quarter. Guardian Wealth Management Inc. now owns 1,982 shares of the computer hardware maker's stock worth $241,000 after purchasing an additional 1,607 shares in the last quarter. Finally, M&T Bank Corp raised its stake in NVIDIA by 5.1% in the 3rd quarter. M&T Bank Corp now owns 3,858,775 shares of the computer hardware maker's stock valued at $468,609,000 after acquiring an additional 186,652 shares during the period. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

NVIDIA stock opened at $134.38 on Wednesday. The stock has a market cap of $3.29 trillion, a P/E ratio of 52.88, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The company has a fifty day simple moving average of $113.11 and a 200-day simple moving average of $126.98. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share 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 firm had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. Equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is 1.36%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NVDA. UBS Group dropped their price target on NVIDIA from $180.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Rosenblatt Securities lowered their price objective on NVIDIA from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. KeyCorp set a $190.00 price objective on NVIDIA in a research report on Wednesday, March 19th. Wedbush reiterated an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, Barclays lowered their price objective on NVIDIA from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $164.84.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert K. Burgess sold 53,324 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now owns 251,044 shares in the company, valued at $28,993,071.56. The trade was 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 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

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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