Waterway Wealth Management LLC Adds New Holding in NVIDIA Co. (NASDAQ:NVDA)

Waterway Wealth Management LLC Adds New Holding in NVIDIA Co. (NASDAQ:NVDA)


Waterway Wealth Management LLC acquired a new stake in NVIDIA Co. (NASDAQ:NVDAFree Report) in the fourth quarter, Holdings Channel reports. The firm acquired 3,212 shares of the computer hardware maker’s stock, valued at approximately $1,591,000. NVIDIA accounts for approximately 0.5% of Waterway Wealth Management LLC’s holdings, making the stock its 16th biggest holding.

A number of other institutional investors have also recently made changes to their positions in the business. Peoples Financial Services CORP. purchased a new position in NVIDIA in the third quarter worth approximately $30,000. Your Advocates Ltd. LLP purchased a new position in NVIDIA in the third quarter worth approximately $30,000. Quarry LP purchased a new position in NVIDIA in the first quarter worth approximately $34,000. Compass Wealth Management LLC purchased a new position in NVIDIA in the fourth quarter worth approximately $39,000. Finally, Trivant Custom Portfolio Group LLC lifted its position in shares of NVIDIA by 44.1% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 35,648 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $542.93, for a total transaction of $19,354,368.64. Following the completion of the sale, the director now owns 1,189,083 shares of the company’s stock, valued at $645,588,833.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark A. Stevens sold 36,000 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $546.95, for a total transaction of $19,690,200.00. Following the transaction, the director now directly owns 1,134,583 shares in the company, valued at $620,560,171.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 35,648 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $542.93, for a total value of $19,354,368.64. Following the transaction, the director now owns 1,189,083 shares in the company, valued at $645,588,833.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,352 shares of company stock valued at $64,853,077. 3.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVDA. Cantor Fitzgerald restated an “overweight” rating and set a $900.00 price objective on shares of NVIDIA in a research report on Monday, March 4th. Citigroup boosted their price objective on shares of NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Wedbush restated an “outperform” rating and set a $1,000.00 price objective on shares of NVIDIA in a research report on Tuesday, March 19th. Rosenblatt Securities restated a “buy” rating and set a $1,100.00 price objective on shares of NVIDIA in a research report on Tuesday, February 20th. Finally, Tigress Financial upped their price target on shares of NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $908.68.

Read Our Latest Analysis on NVIDIA

NVIDIA Stock Up 0.1 %

Shares of NASDAQ:NVDA opened at $903.56 on Friday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. NVIDIA Co. has a 52-week low of $262.20 and a 52-week high of $974.00. The company has a 50 day moving average of $772.45 and a two-hundred day moving average of $574.01. The company has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 75.68, a price-to-earnings-growth ratio of 1.30 and a beta of 1.73.

NVIDIA (NASDAQ:NVDAGet Free Report) 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 the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the company earned $0.65 earnings per share. NVIDIA’s revenue for the quarter was up 265.3% on a year-over-year basis. As a group, analysts forecast that NVIDIA Co. will post 22.45 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given 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 payout ratio is currently 1.34%.

About NVIDIA

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)



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