United Asset Strategies Inc. Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

United Asset Strategies Inc. increased its position in NVIDIA Co. (NASDAQ:NVDA) by 6.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 29,905 shares of the computer hardware maker’s stock after purchasing an additional 1,817 shares during the period. NVIDIA accounts for about 1.7% of United Asset Strategies Inc.’s holdings, making the stock its 13th biggest holding. United Asset Strategies Inc.’s holdings in NVIDIA were worth $14,809,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NVDA. LFA Lugano Financial Advisors SA purchased a new stake in NVIDIA during the 4th quarter valued at approximately $28,000. Your Advocates Ltd. LLP purchased a new stake in NVIDIA during the 3rd quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC raised its stake in NVIDIA by 44.1% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after acquiring an additional 30 shares during the last quarter. O Brien Wealth Partners LLC raised its stake in NVIDIA by 139.5% during the 4th quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock valued at $45,000 after acquiring an additional 53 shares during the last quarter. Finally, Beacon Capital Management Inc. purchased a new stake in NVIDIA during the 4th quarter valued at approximately $50,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the transaction, the director now directly owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on NVDA shares. Wells Fargo & Company upped their price objective on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Raymond James boosted their target price on NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 11th. KeyCorp boosted their target price on NVIDIA from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Benchmark reiterated a “buy” rating and set a $1,000.00 target price on shares of NVIDIA in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group boosted their target price on NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $940.30.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $796.77 on Thursday. NVIDIA Co. has a twelve month low of $262.25 and a twelve month high of $974.00. The stock has a market capitalization of $1.99 trillion, a P/E ratio of 66.73, a PEG ratio of 1.14 and a beta of 1.73. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average price is $849.38 and its 200 day moving average price is $631.03.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 265.3% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s payout ratio is currently 1.34%.

About NVIDIA

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.