Prestige Wealth Management Group LLC Acquires 6,965 Shares of NVIDIA Co. (NASDAQ:NVDA)

Prestige Wealth Management Group LLC grew its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,365 shares of the computer hardware maker's stock after purchasing an additional 6,965 shares during the period. NVIDIA comprises about 2.4% of Prestige Wealth Management Group LLC's portfolio, making the stock its 14th largest position. Prestige Wealth Management Group LLC's holdings in NVIDIA were worth $7,569,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NVDA. Tacita Capital Inc acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the fourth quarter valued at approximately $34,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at approximately $38,000. Luken Investment Analytics LLC bought a new stake in NVIDIA during the 4th quarter worth $40,000. Finally, Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the 4th quarter worth approximately $46,000. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert K. Burgess sold 53,324 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 in the last three months. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NVDA. Truist Financial lifted their target price on shares of NVIDIA from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. Morgan Stanley decreased their target price on NVIDIA from $162.00 to $160.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Piper Sandler reiterated an "overweight" rating on shares of NVIDIA in a research note on Friday, April 25th. Finally, Bank of America reduced their price target on shares of NVIDIA from $200.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $164.96.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded down $0.10 during midday trading on Wednesday, hitting $108.92. The company had a trading volume of 223,117,523 shares, compared to its average volume of 303,086,208. NVIDIA Co. has a 12-month low of $81.25 and a 12-month high of $195.95. The company has a fifty day moving average of $111.97 and a two-hundred day moving average of $128.63. The company has a market cap of $2.66 trillion, a price-to-earnings ratio of 42.87, a PEG ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA's payout ratio is 1.36%.

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.