Riggs Asset Managment Co. Inc. Acquires 166 Shares of NVIDIA Co. (NASDAQ:NVDA)

Riggs Asset Managment Co. Inc. lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,309 shares of the computer hardware maker’s stock after acquiring an additional 166 shares during the quarter. NVIDIA accounts for 3.8% of Riggs Asset Managment Co. Inc.’s holdings, making the stock its 3rd biggest position. Riggs Asset Managment Co. Inc.’s holdings in NVIDIA were worth $14,204,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the second quarter worth $31,000. Legend Financial Advisors Inc. purchased a new stake in NVIDIA during the fourth quarter worth $34,000. West Financial Advisors LLC purchased a new position in NVIDIA during the third quarter valued at $36,000. Finally, Luken Investment Analytics LLC purchased a new position in NVIDIA during the fourth quarter valued at $40,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,107,632 shares of company stock valued at $146,405,286. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of NVDA opened at $124.81 on Friday. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $153.13. The stock has a market cap of $3.06 trillion, a PE ratio of 49.12, a P/E/G ratio of 1.76 and a beta of 1.62. The firm has a 50-day simple moving average of $134.19 and a two-hundred day simple moving average of $131.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is 1.57%.

Wall Street Analyst Weigh In

NVDA has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of NVIDIA from $190.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday. Robert W. Baird increased their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Susquehanna increased their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $169.62.

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.