Nvest Financial LLC Has $1.75 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Nvest Financial LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,376 shares of the computer hardware maker’s stock after purchasing an additional 1,230 shares during the period. Nvest Financial LLC’s holdings in NVIDIA were worth $1,746,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its stake in NVIDIA by 52.2% in the 1st 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 purchasing an additional 13,135 shares during the last quarter. Blackhawk Capital Partners LLC. grew its holdings in shares of NVIDIA by 155.0% during the first quarter. Blackhawk Capital Partners LLC. now owns 1,780 shares of the computer hardware maker’s stock valued at $1,608,000 after buying an additional 1,082 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of NVIDIA by 43.1% during the first quarter. Resonant Capital Advisors LLC now owns 5,850 shares of the computer hardware maker’s stock valued at $5,286,000 after buying an additional 1,761 shares during the last quarter. Smith Shellnut Wilson LLC ADV boosted its holdings in NVIDIA by 5.3% during the first quarter. Smith Shellnut Wilson LLC ADV now owns 1,198 shares of the computer hardware maker’s stock worth $1,082,000 after purchasing an additional 60 shares during the last quarter. Finally, 5th Street Advisors LLC purchased a new position in NVIDIA during the first quarter worth about $233,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction 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 completion of the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last quarter. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $146.27 on Thursday. The firm’s 50 day moving average price is $128.59 and its 200-day moving average price is $119.33. 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 stock has a market capitalization of $3.59 trillion, a PE ratio of 68.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the company earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The company 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. 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 dividend payout ratio is presently 1.88%.

Wall Street Analyst Weigh In

NVDA has been the topic of several research reports. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. 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 research note on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Westpark Capital upped their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC upped their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.48.

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.