IMG Wealth Management Inc. Takes $283,000 Position in NVIDIA Co. (NASDAQ:NVDA)

IMG Wealth Management Inc. bought a new position in NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,104 shares of the computer hardware maker’s stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Signature Wealth Management Group raised its position in NVIDIA by 22.9% during the fourth quarter. Signature Wealth Management Group now owns 17,795 shares of the computer hardware maker’s stock valued at $2,390,000 after purchasing an additional 3,310 shares in the last quarter. SlateStone Wealth LLC increased its position in shares of NVIDIA by 1.1% during the 4th quarter. SlateStone Wealth LLC now owns 306,679 shares of the computer hardware maker’s stock valued at $41,184,000 after purchasing an additional 3,435 shares during the last quarter. First National Advisers LLC raised its holdings in shares of NVIDIA by 2.7% during the 4th quarter. First National Advisers LLC now owns 216,582 shares of the computer hardware maker’s stock valued at $29,085,000 after buying an additional 5,736 shares in the last quarter. GWN Securities Inc. bought a new stake in NVIDIA in the 4th quarter worth approximately $17,075,000. Finally, Altus Wealth Group LLC boosted its stake in NVIDIA by 2.6% in the fourth quarter. Altus Wealth Group LLC now owns 19,126 shares of the computer hardware maker’s stock worth $2,568,000 after buying an additional 490 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $101.33 on Monday. The firm has a fifty day simple moving average of $116.56 and a two-hundred day simple moving average of $129.90. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.47 trillion, a P/E ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 52 week low of $76.40 and a 52 week high of $195.95.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The company 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, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The stock was 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 trade represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last quarter. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NVDA. William Blair reissued an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Rosenblatt Securities decreased their target price on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. TD Cowen lowered their price target on shares of NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Barclays raised their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Wedbush reissued an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Six 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.51.

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.