Hoese & Co LLP Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Hoese & Co LLP increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 720 shares of the computer hardware maker’s stock after purchasing an additional 648 shares during the period. Hoese & Co LLP’s holdings in NVIDIA were worth $87,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its stake in NVIDIA by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after acquiring an additional 13,135 shares during the last quarter. Avior Wealth Management LLC raised its stake in shares of NVIDIA by 24.3% during the first quarter. Avior Wealth Management LLC now owns 27,179 shares of the computer hardware maker’s stock worth $24,558,000 after acquiring an additional 5,309 shares in the last quarter. Prosperity Consulting Group LLC lifted its position in NVIDIA by 35.2% in the first quarter. Prosperity Consulting Group LLC now owns 5,533 shares of the computer hardware maker’s stock valued at $4,999,000 after purchasing an additional 1,440 shares during the last quarter. Financial Guidance Group Inc. bought a new stake in shares of NVIDIA in the first quarter worth about $325,000. Finally, BOK Financial Private Wealth Inc. raised its position in NVIDIA by 28.1% during the 1st quarter. BOK Financial Private Wealth Inc. now owns 551 shares of the computer hardware maker’s stock valued at $498,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 2.1 %

Shares of NVDA stock opened at $148.29 on Wednesday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The stock’s fifty day moving average price is $127.79 and its 200 day moving average price is $118.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market cap of $3.64 trillion, a price-to-earnings ratio of 69.62, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the previous 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 Cuts Dividend

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

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Evercore ISI lifted their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. UBS Group boosted their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. DA Davidson restated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company lifted their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by company insiders.

About NVIDIA

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.