Morton Capital Management LLC CA Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Morton Capital Management LLC CA increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 36.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,942 shares of the computer hardware maker’s stock after buying an additional 6,101 shares during the period. NVIDIA comprises 0.5% of Morton Capital Management LLC CA’s portfolio, making the stock its 17th largest holding. Morton Capital Management LLC CA’s holdings in NVIDIA were worth $2,786,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. HBC Financial Services PLLC acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $30,000. TCTC Holdings LLC acquired a new stake in NVIDIA during the 1st quarter valued at $82,000. Finally, Slocum Gordon & Co LLP purchased a new position in NVIDIA during the first quarter worth $98,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. 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 at this link. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.6 %

Shares of NVIDIA stock opened at $145.26 on Tuesday. The business has a 50-day moving average price of $127.27 and a 200 day moving average price of $118.46. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The firm has a market cap of $3.56 trillion, a P/E ratio of 68.20, a P/E/G ratio of 1.56 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business 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 business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. On average, sell-side analysts forecast 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 share repurchase program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Bank of America upped their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. HSBC lifted their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Needham & Company LLC raised their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.63.

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.