Pines Wealth Management LLC Buys New Shares in NVIDIA Co. (NASDAQ:NVDA)

Pines Wealth Management LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, Holdings Channel reports. The firm purchased 57,866 shares of the computer hardware maker’s stock, valued at approximately $7,865,000. NVIDIA accounts for about 3.4% of Pines Wealth Management LLC’s holdings, making the stock its 4th largest holding.

A number of other large investors have also made changes to their positions in NVDA. Quest Partners LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA during the second quarter worth $31,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA in the 4th quarter valued at $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of NVIDIA in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 3.7 %

Shares of NASDAQ NVDA opened at $120.07 on Friday. The firm has a 50 day moving average price of $137.02 and a 200 day moving average price of $129.37. 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 stock has a market cap of $2.94 trillion, a P/E ratio of 47.25, a P/E/G ratio of 2.23 and a beta of 1.64. NVIDIA Co. has a 52-week low of $60.70 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. Analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVDA. Wedbush lifted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Morgan Stanley lowered their price objective on NVIDIA from $166.00 to $152.00 and set an “overweight” rating on the stock in a research note on Tuesday. Truist Financial raised their target price on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group upped their price target on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Needham & Company LLC lifted their price objective on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.23.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by company 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.