Gratus Wealth Advisors LLC Acquires 8,954 Shares of NVIDIA Co. (NASDAQ:NVDA)

Gratus Wealth Advisors LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 16.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,438 shares of the computer hardware maker’s stock after acquiring an additional 8,954 shares during the quarter. NVIDIA comprises about 1.3% of Gratus Wealth Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Gratus Wealth Advisors LLC’s holdings in NVIDIA were worth $8,230,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA during the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the 1st quarter worth about $27,000. HBC Financial Services PLLC bought a new position in shares of NVIDIA during the 1st quarter worth about $30,000. TCTC Holdings LLC bought a new position in shares of NVIDIA during the 1st quarter worth about $82,000. Finally, Slocum Gordon & Co LLP bought a new position in shares of NVIDIA during the 1st quarter worth about $98,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 0.8 %

NVIDIA stock opened at $147.63 on Friday. The stock has a market capitalization of $3.62 trillion, a PE ratio of 69.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $127.27 and a 200-day moving average of $117.94.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company 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 company earned $0.25 earnings per share. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Tuesday, August 6th. The Goldman Sachs Group lifted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Bank of America lifted their target price on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by 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.