Prakash Investment Advisors LLC Invests $15.68 Million in NVIDIA Co. (NASDAQ:NVDA)

Prakash Investment Advisors LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 116,755 shares of the computer hardware maker’s stock, valued at approximately $15,679,000. NVIDIA makes up approximately 15.5% of Prakash Investment Advisors LLC’s holdings, making the stock its biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of NVDA. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the fourth quarter worth about $34,000. Luken Investment Analytics LLC bought a new stake in NVIDIA during the 4th quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. increased its holdings in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares during the period. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the 4th quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. boosted its holdings in NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after purchasing an additional 248 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Morgan Stanley set a $162.00 price target on NVIDIA and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Truist Financial raised their target price on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Trading Down 5.7 %

NASDAQ NVDA opened at $113.76 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The stock has a market cap of $2.78 trillion, a P/E ratio of 44.77, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The stock has a 50 day simple moving average of $126.01 and a two-hundred day simple moving average of $131.46.

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

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,609 shares of company stock valued at $22,642,615 over the last three months. Corporate insiders own 4.23% of the company’s stock.

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.