NVIDIA Co. (NASDAQ:NVDA) Position Raised by Blossom Wealth Management

Blossom Wealth Management grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 34.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,634 shares of the computer hardware maker’s stock after purchasing an additional 1,690 shares during the period. NVIDIA comprises approximately 8.9% of Blossom Wealth Management’s investment portfolio, making the stock its largest holding. Blossom Wealth Management’s holdings in NVIDIA were worth $3,285,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $3,900,874,000. Moneta Group Investment Advisors LLC lifted its position in shares of NVIDIA by 160,446.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after buying an additional 19,574,443 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of NVIDIA by 54,019.5% during the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after buying an additional 16,835,703 shares in the last quarter. Morgan Stanley lifted its position in shares of NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after buying an additional 4,621,002 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of NVIDIA by 55.7% during the 2nd quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock valued at $3,240,769,000 after buying an additional 2,740,850 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $840.35 on Thursday. The business has a 50-day moving average of $840.89 and a 200 day moving average of $618.47. NVIDIA Co. has a 12 month low of $262.25 and a 12 month high of $974.00. The stock has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 70.38, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the business posted $0.65 EPS. NVIDIA’s revenue for the quarter was up 265.3% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is 1.34%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVDA. Cantor Fitzgerald reiterated an “overweight” rating and set a $900.00 target price on shares of NVIDIA in a research report on Monday, March 4th. Craig Hallum increased their price objective on NVIDIA from $700.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Wolfe Research increased their price objective on NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Piper Sandler Companies increased their price objective on NVIDIA to $850.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, Truist Financial increased their price objective on NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $940.30.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the transaction, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock worth $52,689,898 in the last three months. 3.99% of the stock is owned by company insiders.

NVIDIA 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.