SMI Advisory Services LLC Acquires 126 Shares of NVIDIA Co. (NASDAQ:NVDA)

SMI Advisory Services LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,406 shares of the computer hardware maker’s stock after acquiring an additional 126 shares during the period. SMI Advisory Services LLC’s holdings in NVIDIA were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Founders Capital Management boosted its position in shares of NVIDIA by 43.5% in the third quarter. Founders Capital Management now owns 990 shares of the computer hardware maker’s stock worth $120,000 after purchasing an additional 300 shares during the period. McLean Asset Management Corp grew its position in shares of NVIDIA by 142.5% during the third quarter. McLean Asset Management Corp now owns 46,772 shares of the computer hardware maker’s stock worth $5,843,000 after purchasing an additional 27,486 shares in the last quarter. KWB Wealth bought a new stake in NVIDIA during the 3rd quarter valued at approximately $1,046,000. Sandbox Financial Partners LLC lifted its holdings in shares of NVIDIA by 7.7% in the third quarter. Sandbox Financial Partners LLC now owns 49,368 shares of the computer hardware maker’s stock worth $5,995,000 after buying an additional 3,515 shares in the last quarter. Finally, MKT Advisors LLC grew its position in shares of NVIDIA by 5.4% during the third quarter. MKT Advisors LLC now owns 9,064 shares of the computer hardware maker’s stock valued at $1,077,000 after purchasing an additional 461 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred 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 in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. 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 in the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 2.2 %

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

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. On average, research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVDA. Benchmark restated a “buy” rating and set a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Raymond James boosted their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. Sanford C. Bernstein lifted their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

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.