Uniting Wealth Partners LLC Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

Uniting Wealth Partners LLC bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 51,680 shares of the computer hardware maker's stock, valued at approximately $6,940,000. NVIDIA makes up approximately 3.4% of Uniting Wealth Partners LLC's portfolio, making the stock its 3rd biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. lifted its position in NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock valued at $14,650,000 after acquiring an additional 350 shares during the period. Swedbank AB lifted its holdings in shares of NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares in the last quarter. Principal Financial Group Inc. lifted its stake in 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 valued at $4,326,576,000 after acquiring an additional 1,285,897 shares during the period. First City Capital Management Inc. boosted its holdings in NVIDIA by 2.6% in the third quarter. First City Capital Management Inc. now owns 38,609 shares of the computer hardware maker's stock worth $4,689,000 after purchasing an additional 981 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in shares of NVIDIA by 5.6% in the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 128,212 shares of the computer hardware maker's stock worth $15,570,000 after buying an additional 6,771 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Transactions at NVIDIA

In other news, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the business's stock in a transaction that occurred on 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 trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,147 shares of company stock valued at $17,133,207. Company insiders own 4.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial lifted their price target 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. Benchmark reissued a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Rosenblatt Securities lowered their price target on shares of NVIDIA from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Summit Insights cut shares of NVIDIA from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.96.

NVIDIA Price Performance

NVDA stock opened at $113.82 on Tuesday. The stock has a market cap of $2.78 trillion, a PE ratio of 44.79, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The company has a 50-day moving average price of $110.50 and a 200 day moving average price of $127.91. 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 released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Equities research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

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