Drive Wealth Management LLC Buys 479 Shares of NVIDIA Co. (NASDAQ:NVDA)

Drive Wealth Management LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,219 shares of the computer hardware maker’s stock after buying an additional 479 shares during the quarter. NVIDIA accounts for approximately 1.8% of Drive Wealth Management LLC’s portfolio, making the stock its 11th largest holding. Drive Wealth Management LLC’s holdings in NVIDIA were worth $6,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Moody Lynn & Lieberson LLC boosted its holdings in shares of NVIDIA by 7.2% during the third quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker’s stock worth $38,737,000 after purchasing an additional 5,998 shares during the period. TrueMark Investments LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth about $2,639,000. McLean Asset Management Corp boosted its holdings in shares of NVIDIA by 11.7% during the fourth quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock worth $871,000 after purchasing an additional 186 shares during the period. Cornercap Investment Counsel Inc. boosted its holdings in shares of NVIDIA by 5.7% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 3,900 shares of the computer hardware maker’s stock worth $1,931,000 after purchasing an additional 209 shares during the period. Finally, Shilanski & Associates Inc. boosted its holdings in shares of NVIDIA by 15.9% during the fourth quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker’s stock worth $1,477,000 after purchasing an additional 410 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. Piper Sandler Companies raised their price objective on shares of NVIDIA to $850.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Benchmark restated a “buy” rating and issued a $1,000.00 price objective on shares of NVIDIA in a report on Wednesday, March 20th. Piper Sandler raised their price objective on shares of NVIDIA from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Mizuho lifted their target price on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Truist Financial lifted their target price on shares of NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $940.30.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

Shares of NVDA stock traded up $51.03 during mid-day trading on Friday, reaching $877.35. 54,877,793 shares of the company’s stock traded hands, compared to its average volume of 43,852,452. NVIDIA Co. has a 12 month low of $266.25 and a 12 month high of $974.00. The firm has a 50 day moving average price of $854.40 and a two-hundred day moving average price of $635.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The firm has a market capitalization of $2.19 trillion, a PE ratio of 73.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The company’s revenue for the quarter was up 265.3% compared to the same quarter last year. On average, research analysts forecast that NVIDIA Co. will post 22.55 EPS 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 paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is 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.