Fortress Financial Solutions LLC Acquires New Shares in NVIDIA Co. (NASDAQ:NVDA)
Fortress Financial Solutions LLC acquired a new stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) in the 4th quarter, Holdings Channel reports. The firm acquired 9,777 shares of the computer hardware maker’s stock, valued at approximately $1,313,000. NVIDIA accounts for approximately 1.9% of Fortress Financial Solutions LLC’s holdings, making the stock its 15th largest holding.
Other hedge funds have also recently bought and sold shares of the company. Hoertkorn Richard Charles boosted its holdings in NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its holdings in NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 71 shares during the last quarter. Smart Portfolios LLC boosted its holdings in NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after acquiring an additional 75 shares during the last quarter. Palisade Asset Management LLC boosted its holdings in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares during the last quarter. Finally, Baker Boyer National Bank boosted its holdings in NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after acquiring an additional 76 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Stock Performance
Shares of NVDA stock opened at $121.67 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $129.26 and a two-hundred day moving average of $131.17. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a market cap of $2.97 trillion, a P/E ratio of 47.88, a PEG ratio of 1.76 and a beta of 1.77.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating 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 company 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 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 given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.36%.
Analyst Ratings Changes
A number of research analysts recently weighed in on NVDA shares. HSBC reduced their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays lifted their target price on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Benchmark reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, February 27th. Oppenheimer reissued an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $171.51.
Check Out Our Latest Research Report on NVIDIA
Insider Transactions at NVIDIA
In other news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,039,125 shares of company stock worth $137,062,338. Company insiders own 4.23% of the company’s stock.
NVIDIA Company 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.
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