NVIDIA Co. (NASDAQ:NVDA) Stock Position Raised by City Center Advisors LLC

City Center Advisors LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 498.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,552 shares of the computer hardware maker’s stock after acquiring an additional 4,625 shares during the period. City Center Advisors LLC’s holdings in NVIDIA were worth $674,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVDA. Privium Fund Management UK Ltd bought a new position in NVIDIA during the 1st quarter worth $2,635,000. Lifestyle Asset Management Inc. grew its position in shares of NVIDIA by 246.9% during the first quarter. Lifestyle Asset Management Inc. now owns 2,005 shares of the computer hardware maker’s stock worth $1,812,000 after acquiring an additional 1,427 shares during the last quarter. OMNI 360 Wealth Inc. increased its holdings in shares of NVIDIA by 6.0% in the 1st quarter. OMNI 360 Wealth Inc. now owns 513 shares of the computer hardware maker’s stock worth $464,000 after acquiring an additional 29 shares during the period. JTC Employer Solutions Trustee Ltd lifted its position in NVIDIA by 1.0% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 14,897 shares of the computer hardware maker’s stock valued at $13,453,000 after purchasing an additional 150 shares during the last quarter. Finally, Trust Co. of Oklahoma boosted its stake in NVIDIA by 2.7% during the 1st quarter. Trust Co. of Oklahoma now owns 1,105 shares of the computer hardware maker’s stock valued at $998,000 after purchasing an additional 29 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. HSBC raised their price target on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. lifted their target price on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. The Goldman Sachs Group increased their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Truist Financial lifted their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Up 2.2 %

NVDA stock opened at $148.88 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.65 trillion, a PE ratio of 69.90, a PEG ratio of 1.43 and a beta of 1.66. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $148.93. The company has a fifty day simple moving average of $126.08 and a 200 day simple moving average of $117.25.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS. Sell-side analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the transaction, the director now directly owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. 4.23% of the stock is currently 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.