Lorne Steinberg Wealth Management Inc. Invests $217,000 in NVIDIA Co. (NASDAQ:NVDA)

Lorne Steinberg Wealth Management Inc. bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 439 shares of the computer hardware maker’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. LFA Lugano Financial Advisors SA bought a new stake in shares of NVIDIA in the fourth quarter valued at about $28,000. Criterion Capital Advisors LLC bought a new stake in shares of NVIDIA in the fourth quarter valued at about $28,000. Your Advocates Ltd. LLP bought a new stake in shares of NVIDIA in the third quarter valued at about $30,000. O Brien Wealth Partners LLC raised its holdings in shares of NVIDIA by 139.5% in the fourth quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock valued at $45,000 after acquiring an additional 53 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC raised its holdings in shares of NVIDIA by 44.1% in the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after acquiring an additional 30 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director John Dabiri sold 128 shares of the stock in a transaction on 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 directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction on 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 directly owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock valued at $52,689,898 in the last three months. 3.99% of the stock is currently owned by company insiders.

NVIDIA Trading Down 3.9 %

Shares of NVDA stock opened at $830.41 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The company has a market cap of $2.08 trillion, a price-to-earnings ratio of 69.55, a PEG ratio of 1.26 and a beta of 1.73. The stock has a 50 day simple moving average of $863.93 and a 200-day simple moving average of $644.83. NVIDIA Co. has a 1-year low of $272.40 and a 1-year high of $974.00.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s quarterly revenue was up 265.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. On average, equities research analysts expect that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $700.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Truist Financial boosted their target price on shares of NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Benchmark reiterated a “buy” rating and issued a $1,000.00 target price on shares of NVIDIA in a report on Wednesday, March 20th. Loop Capital assumed coverage on shares of NVIDIA in a report on Friday, February 16th. They issued a “buy” rating and a $1,200.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on shares of NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $941.55.

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.