GenWealth Group Inc. Takes $624,000 Position in NVIDIA Corporation $NVDA

GenWealth Group Inc. bought a new stake in NVIDIA Corporation (NASDAQ:NVDAFree Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,335 shares of the computer hardware maker’s stock, valued at approximately $624,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Winnow Wealth LLC acquired a new stake in shares of NVIDIA during the second quarter worth $32,000. Longfellow Investment Management Co. LLC grew its stake in shares of NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after acquiring an additional 67 shares in the last quarter. Spurstone Advisory Services LLC acquired a new position in shares of NVIDIA in the second quarter valued at about $40,000. Sellwood Investment Partners LLC bought a new position in NVIDIA during the third quarter worth about $50,000. Finally, EDENTREE ASSET MANAGEMENT Ltd bought a new position in NVIDIA during the second quarter worth about $54,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NVDA. Needham & Company LLC reissued a “buy” rating and issued a $240.00 price objective on shares of NVIDIA in a report on Wednesday, March 18th. Stifel Nicolaus set a $250.00 target price on shares of NVIDIA in a report on Thursday, January 8th. Itau BBA Securities reiterated a “market perform” rating on shares of NVIDIA in a research report on Thursday, February 26th. Wedbush boosted their price target on NVIDIA from $230.00 to $300.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Finally, Barclays reissued a “buy” rating on shares of NVIDIA in a research report on Thursday, February 26th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $275.95.

Read Our Latest Report on NVDA

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $174.34 on Wednesday. The company has a 50 day moving average of $182.92 and a 200-day moving average of $184.28. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $212.19. The company has a current ratio of 3.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.05. The company has a market cap of $4.24 trillion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 0.55 and a beta of 2.33.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The computer hardware maker reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. NVIDIA had a net margin of 55.60% and a return on equity of 97.37%. The business had revenue of $68.13 billion for the quarter, compared to analysts’ expectations of $65.56 billion. During the same period last year, the firm posted $0.89 earnings per share. The firm’s quarterly revenue was up 73.2% compared to the same quarter last year. As a group, equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio (DPR) is presently 0.82%.

More NVIDIA News

Here are the key news stories impacting NVIDIA this week:

Insider Activity

In related news, CFO Colette Kress sold 42,650 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $174.89, for a total value of $7,459,058.50. Following the sale, the chief financial officer directly owned 881,387 shares of the company’s stock, valued at $154,145,772.43. This trade represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 300,000 shares of NVIDIA stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $182.25, for a total value of $54,675,000.00. Following the completion of the transaction, the executive vice president owned 3,018,547 shares in the company, valued at approximately $550,130,190.75. This represents a 9.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,401,616 shares of company stock worth $253,555,407. Insiders own 4.17% of the company’s stock.

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Further Reading

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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