HCR Wealth Advisors Has $32.15 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

HCR Wealth Advisors boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,764 shares of the computer hardware maker’s stock after acquiring an additional 22,612 shares during the period. NVIDIA makes up approximately 4.2% of HCR Wealth Advisors’ holdings, making the stock its 5th largest holding. HCR Wealth Advisors’ holdings in NVIDIA were worth $32,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. China Universal Asset Management Co. Ltd. increased its position 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 worth $34,597,000 after purchasing an additional 13,135 shares during the period. Crown Wealth Group LLC lifted its stake in NVIDIA by 28.7% in the first quarter. Crown Wealth Group LLC now owns 3,586 shares of the computer hardware maker’s stock valued at $3,240,000 after acquiring an additional 800 shares during the last quarter. Harbor Advisors LLC raised its stake in NVIDIA by 3.4% in the 1st quarter. Harbor Advisors LLC now owns 18,000 shares of the computer hardware maker’s stock valued at $16,264,000 after acquiring an additional 600 shares during the period. Presilium Private Wealth LLC bought a new stake in shares of NVIDIA during the first quarter worth approximately $201,000. Finally, Better Money Decisions LLC boosted its position in shares of NVIDIA by 4.8% in the first quarter. Better Money Decisions LLC now owns 727 shares of the computer hardware maker’s stock valued at $657,000 after acquiring an additional 33 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NVDA. Sanford C. Bernstein raised their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Benchmark reiterated a “buy” rating and set a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. UBS Group raised their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company lifted their price target on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Stock Up 0.3 %

NASDAQ:NVDA opened at $146.76 on Friday. 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 firm’s 50-day moving average price is $129.39 and its 200-day moving average price is $119.51. The company has a market capitalization of $3.60 trillion, a PE ratio of 68.84, a P/E/G ratio of 1.56 and a beta of 1.66. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping 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 business had revenue of $30.04 billion for 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 revenue was up 122.4% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.88%.

NVIDIA declared that its board has authorized a stock buyback 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA 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 completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. 4.23% of the stock is owned by 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.