Centennial Wealth Advisory LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Centennial Wealth Advisory LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,421 shares of the computer hardware maker’s stock after purchasing an additional 31 shares during the period. NVIDIA makes up 0.6% of Centennial Wealth Advisory LLC’s portfolio, making the stock its 29th largest holding. Centennial Wealth Advisory LLC’s holdings in NVIDIA were worth $1,284,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. HT Partners LLC boosted its position in NVIDIA by 5.9% in the 3rd quarter. HT Partners LLC now owns 2,018 shares of the computer hardware maker’s stock valued at $878,000 after buying an additional 112 shares during the period. Clarus Group Inc. boosted its position in NVIDIA by 1.0% in the 3rd quarter. Clarus Group Inc. now owns 3,910 shares of the computer hardware maker’s stock valued at $1,701,000 after buying an additional 40 shares during the period. Everence Capital Management Inc. boosted its position in NVIDIA by 1.0% in the 3rd quarter. Everence Capital Management Inc. now owns 63,176 shares of the computer hardware maker’s stock valued at $27,481,000 after buying an additional 600 shares during the period. Legacy Trust boosted its position in NVIDIA by 2.0% in the 3rd quarter. Legacy Trust now owns 3,964 shares of the computer hardware maker’s stock valued at $1,724,000 after buying an additional 76 shares during the period. Finally, Community Trust & Investment Co. boosted its position in NVIDIA by 14.2% in the 3rd quarter. Community Trust & Investment Co. now owns 57,356 shares of the computer hardware maker’s stock valued at $24,949,000 after buying an additional 7,125 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mark A. Stevens sold 22,700 shares of the 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 sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock valued at $52,689,898 in the last ninety days. Insiders own 3.99% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several research reports. DA Davidson boosted their price objective on shares of NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. KeyCorp upped their price target on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Morgan Stanley upped their price target on shares of NVIDIA from $795.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. HSBC upped their price target on shares of NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Tigress Financial upped their price target on shares of NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $941.55.

NVIDIA Stock Performance

Shares of NVDA stock traded down $13.55 during trading hours on Tuesday, hitting $864.02. The company’s stock had a trading volume of 36,070,525 shares, compared to its average volume of 51,807,828. The company has a 50 day moving average of $860.82 and a 200 day moving average of $643.52. The stock has a market cap of $2.16 trillion, a PE ratio of 72.36, a price-to-earnings-growth ratio of 1.26 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. NVIDIA Co. has a 12-month low of $272.40 and a 12-month high of $974.00.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. The business had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business’s revenue for the quarter was up 265.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. On average, sell-side analysts forecast that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) 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.