Kingsview Wealth Management LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Kingsview Wealth Management LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 889,896 shares of the computer hardware maker’s stock after acquiring an additional 1,207 shares during the period. NVIDIA accounts for 2.3% of Kingsview Wealth Management LLC’s holdings, making the stock its 5th biggest holding. Kingsview Wealth Management LLC’s holdings in NVIDIA were worth $108,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Lantz Financial LLC boosted its stake in shares of NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after purchasing an additional 36,774 shares in the last quarter. Ironwood Wealth Management LLC. boosted its stake in shares of NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares in the last quarter. Xcel Wealth Management LLC boosted its stake in shares of NVIDIA by 885.9% during the second quarter. Xcel Wealth Management LLC now owns 90,917 shares of the computer hardware maker’s stock valued at $11,232,000 after purchasing an additional 81,695 shares in the last quarter. Burns J W & Co. Inc. NY boosted its stake in shares of NVIDIA by 1,050.2% during the second quarter. Burns J W & Co. Inc. NY now owns 106,044 shares of the computer hardware maker’s stock valued at $13,101,000 after purchasing an additional 96,824 shares in the last quarter. Finally, Eads & Heald Wealth Management boosted its stake in shares of NVIDIA by 873.2% during the second quarter. Eads & Heald Wealth Management now owns 59,864 shares of the computer hardware maker’s stock valued at $7,396,000 after purchasing an additional 53,713 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Redburn Atlantic assumed coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. Stifel Nicolaus raised their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Susquehanna raised their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, William Blair assumed coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

Insider Activity

In other news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Down 0.0 %

NVDA opened at $140.11 on Thursday. NVIDIA Co. has a fifty-two week low of $51.69 and a fifty-two week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a fifty day moving average of $139.74 and a two-hundred day moving average of $128.46. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.14, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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.