Parr Mcknight Wealth Management Group LLC Purchases New Stake in NVIDIA Co. (NASDAQ:NVDA)

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 46,285 shares of the computer hardware maker's stock, valued at approximately $6,216,000. NVIDIA accounts for 0.9% of Parr Mcknight Wealth Management Group LLC's portfolio, making the stock its 26th largest holding.

Several other large investors also recently made changes to their positions in the company. Tacita Capital Inc bought a new stake in NVIDIA during the 4th quarter valued at $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the fourth quarter worth $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the fourth quarter worth $40,000. LSV Asset Management purchased a new stake in NVIDIA during the fourth quarter valued at about $54,000. Finally, Delos Wealth Advisors LLC boosted its position in NVIDIA by 134.8% during the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock valued at $66,000 after buying an additional 283 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $170.00 target price (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Bank of America raised their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Truist Financial lifted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $171.66.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director now owns 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,257,983 shares of company stock worth $172,973,349. Corporate insiders own 4.17% of the company's stock.

NVIDIA Price Performance

NVDA traded down $1.93 during midday trading on Thursday, hitting $139.99. The company had a trading volume of 228,903,974 shares, compared to its average volume of 282,161,719. 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 market capitalization of $3.42 trillion, a PE ratio of 55.09, a P/E/G 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 firm's 50-day simple moving average is $117.19 and its 200-day simple moving average is $126.42.

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

NVIDIA Dividend Announcement

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

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.