NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,038 shares of the computer hardware maker’s stock after buying an additional 648 shares during the period. NVIDIA makes up 0.8% of Monterey Private Wealth Inc.’s portfolio, making the stock its 22nd biggest position. Monterey Private Wealth Inc.’s holdings in NVIDIA were worth $2,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVDA has been the topic of several research analyst reports. DA Davidson restated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. HSBC upped their target price on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Craig Hallum lifted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Finally, Westpark Capital lifted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Performance

NASDAQ NVDA opened at $136.05 on Tuesday. The firm’s fifty day moving average price is $125.45 and its two-hundred day moving average price is $116.60. The stock has a market cap of $3.34 trillion, a PE ratio of 63.87, a PEG ratio of 1.40 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a fifty-two week low of $44.90 and a fifty-two week high of $144.42.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, equities analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $104.83, for a total value of $12,579,600.00. Following the transaction, the chief executive officer now owns 76,614,995 shares of the company’s stock, valued at approximately $8,031,549,925.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the completion of the sale, the chief executive officer now owns 76,614,995 shares in the company, valued at $8,031,549,925.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,396,270 shares of company stock valued at $279,825,927 in the last ninety days. 4.23% of the stock is owned by company insiders.

NVIDIA 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.