Centricity Wealth Management LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Centricity Wealth Management LLC acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, Holdings Channel.com reports. The fund acquired 6,801 shares of the computer hardware maker’s stock, valued at approximately $913,000. NVIDIA accounts for 0.9% of Centricity Wealth Management LLC’s holdings, making the stock its 24th largest holding.

A number of other institutional investors have also made changes to their positions in NVDA. AMF Tjanstepension AB boosted its position in NVIDIA by 2.2% in the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after buying an additional 169,445 shares during the last quarter. Wealth Group Ltd. increased its position in shares of NVIDIA by 5.0% during the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after acquiring an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in shares of NVIDIA by 0.3% in the third 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. Swedbank AB boosted its holdings in NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the last quarter. Finally, Madison Park Capital Advisors LLC grew its stake in NVIDIA by 2.4% during the 3rd quarter. Madison Park Capital Advisors LLC now owns 4,230 shares of the computer hardware maker’s stock valued at $514,000 after purchasing an additional 100 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 5.7 %

Shares of NASDAQ:NVDA opened at $113.76 on Thursday. The company has a 50 day moving average of $126.01 and a 200-day moving average of $131.46. 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 firm has a market cap of $2.78 trillion, a P/E ratio of 44.77, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping 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. As a group, analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NVDA shares. Barclays upped their target price on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Bank of America reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. DA Davidson decreased their price objective on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Mizuho cut their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $171.51.

Insiders Place Their Bets

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of NVIDIA 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 owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is 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.