Demars Financial Group LLC Purchases 5,588,768 Shares of NVIDIA Co. (NASDAQ:NVDA)

Demars Financial Group LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 13,293.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,630,809 shares of the computer hardware maker’s stock after purchasing an additional 5,588,768 shares during the quarter. NVIDIA accounts for about 2.3% of Demars Financial Group LLC’s portfolio, making the stock its 7th biggest position. Demars Financial Group LLC’s holdings in NVIDIA were worth $756,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its stake in shares of NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after acquiring an additional 350 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of NVIDIA by 3.7% during the third 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 purchasing an additional 1,285,897 shares during the last quarter. PDT Partners LLC boosted its position in shares of NVIDIA by 83.8% in the 3rd quarter. PDT Partners LLC now owns 49,226 shares of the computer hardware maker’s stock valued at $5,978,000 after purchasing an additional 22,438 shares during the period. White Knight Strategic Wealth Advisors LLC increased its stake in NVIDIA by 5.5% in the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 51,159 shares of the computer hardware maker’s stock worth $6,213,000 after purchasing an additional 2,689 shares in the last quarter. Finally, Circle Wealth Management LLC raised its holdings in NVIDIA by 12.3% during the 3rd quarter. Circle Wealth Management LLC now owns 93,420 shares of the computer hardware maker’s stock worth $11,345,000 after buying an additional 10,245 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. DA Davidson decreased their target price on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Truist Financial lifted their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a report on Wednesday, March 19th. Barclays lowered their price target on NVIDIA from $175.00 to $155.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Mizuho reduced their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, six have assigned 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, the stock has an average rating of “Moderate Buy” and an average price target of $164.84.

NVIDIA Price Performance

NASDAQ NVDA opened at $135.34 on Thursday. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The company has a fifty day simple moving average of $111.24 and a 200 day simple moving average of $127.14. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.31 trillion, a P/E ratio of 53.26, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Insiders Place Their Bets

In related news, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 in the last three months. Company insiders own 4.23% of the company’s stock.

About NVIDIA

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.