Momentum Wealth Planning LLC Invests $2.82 Million in NVIDIA Corporation $NVDA

Momentum Wealth Planning LLC bought a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,822 shares of the computer hardware maker’s stock, valued at approximately $2,816,000. NVIDIA makes up 2.4% of Momentum Wealth Planning LLC’s investment portfolio, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dakota Community Bank & Trust NA raised its stake in NVIDIA by 25.3% during the 2nd quarter. Dakota Community Bank & Trust NA now owns 4,650 shares of the computer hardware maker’s stock worth $735,000 after acquiring an additional 940 shares during the period. Caldwell Trust Co purchased a new stake in shares of NVIDIA in the second quarter worth $55,029,000. Canal Capital Management LLC increased its stake in shares of NVIDIA by 5.2% in the second quarter. Canal Capital Management LLC now owns 83,631 shares of the computer hardware maker’s stock worth $13,213,000 after purchasing an additional 4,157 shares in the last quarter. Milestones Private Investment Advisors LLC purchased a new position in shares of NVIDIA during the 2nd quarter valued at $1,162,000. Finally, NWF Advisory Services Inc. boosted its holdings in NVIDIA by 87.6% in the 2nd quarter. NWF Advisory Services Inc. now owns 83,164 shares of the computer hardware maker’s stock worth $13,139,000 after buying an additional 38,836 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $177.72 on Wednesday. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $212.19. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $186.36 and its 200 day moving average is $174.65. The company has a market cap of $4.32 trillion, a price-to-earnings ratio of 44.10, a PEG ratio of 0.86 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The business had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. During the same period last year, the company posted $0.81 EPS. The business’s revenue was up 62.5% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s payout ratio is 0.99%.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent analyst reports. Bank of America raised their price target on NVIDIA from $235.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. DZ Bank reissued a “buy” rating on shares of NVIDIA in a research note on Thursday, November 20th. Benchmark upped their price target on NVIDIA from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Wells Fargo & Company reissued an “overweight” rating and issued a $265.00 target price (up previously from $220.00) on shares of NVIDIA in a report on Friday, November 14th. Finally, Stifel Nicolaus upped their target price on shares of NVIDIA from $212.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Four investment analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Buy” and an average price target of $258.65.

Insider Buying and Selling

In related news, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $176.21, for a total value of $44,052,500.00. Following the completion of the sale, the director directly owned 7,183,280 shares in the company, valued at $1,265,765,768.80. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Debora Shoquist sold 80,000 shares of NVIDIA stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $184.65, for a total transaction of $14,772,000.00. Following the transaction, the executive vice president directly owned 1,574,443 shares of the company’s stock, valued at $290,720,899.95. The trade was a 4.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,679,474 shares of company stock worth $486,790,117. 4.17% of the stock is owned by company insiders.

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.