Finer Wealth Management Inc. Has $10.78 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Finer Wealth Management Inc. reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 80,242 shares of the computer hardware maker’s stock after selling 968 shares during the period. NVIDIA comprises 6.2% of Finer Wealth Management Inc.’s portfolio, making the stock its 4th biggest holding. Finer Wealth Management Inc.’s holdings in NVIDIA were worth $10,776,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lifelong Wealth Advisors Inc. bought a new position in NVIDIA during the 4th quarter valued at about $457,000. Twin Focus Capital Partners LLC raised its holdings in shares of NVIDIA by 701.6% during the fourth quarter. Twin Focus Capital Partners LLC now owns 44,410 shares of the computer hardware maker’s stock valued at $5,964,000 after purchasing an additional 38,870 shares during the last quarter. Acorns Advisers LLC lifted its position in NVIDIA by 12.5% during the fourth quarter. Acorns Advisers LLC now owns 75,620 shares of the computer hardware maker’s stock valued at $10,155,000 after purchasing an additional 8,405 shares during the period. Finward Bancorp purchased a new stake in NVIDIA in the fourth quarter worth approximately $1,050,000. Finally, Operose Advisors LLC grew its position in NVIDIA by 136.8% in the 4th quarter. Operose Advisors LLC now owns 20,530 shares of the computer hardware maker’s stock worth $2,757,000 after purchasing an additional 11,859 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $135.34 on Thursday. 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 Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The stock has a 50 day moving average of $111.24 and a 200 day moving average of $127.14. The firm has a market cap of $3.31 trillion, a PE ratio of 53.26, a PEG ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating 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 firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. On average, research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Mizuho lowered their price target on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Hsbc Global Res downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Piper Sandler reiterated an “overweight” rating on shares of NVIDIA in a research note on Friday, April 25th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have issued 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 MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $164.84.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the company’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 sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Aarti S. Shah sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. This represents a 27.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by corporate 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.