Johnson Bixby & Associates LLC Has $1.19 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Johnson Bixby & Associates LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 10.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,819 shares of the computer hardware maker’s stock after purchasing an additional 909 shares during the quarter. Johnson Bixby & Associates LLC’s holdings in NVIDIA were worth $1,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NVDA. Factory Mutual Insurance Co. lifted its position in NVIDIA by 2.8% in the 3rd quarter. Factory Mutual Insurance Co. now owns 3,106,048 shares of the computer hardware maker’s stock worth $377,198,000 after buying an additional 85,048 shares in the last quarter. Shira Ridge Wealth Management boosted its position in NVIDIA by 1.9% during the third quarter. Shira Ridge Wealth Management now owns 5,416 shares of the computer hardware maker’s stock valued at $658,000 after purchasing an additional 100 shares during the last quarter. Renaissance Investment Group LLC grew its stake in NVIDIA by 2.3% in the third quarter. Renaissance Investment Group LLC now owns 84,529 shares of the computer hardware maker’s stock valued at $10,265,000 after purchasing an additional 1,874 shares in the last quarter. Hart & Patterson Financial Group LLC increased its position in NVIDIA by 6.4% in the 3rd quarter. Hart & Patterson Financial Group LLC now owns 3,596 shares of the computer hardware maker’s stock worth $437,000 after purchasing an additional 216 shares during the last quarter. Finally, Shaker Investments LLC OH raised its stake in shares of NVIDIA by 7.9% during the 3rd quarter. Shaker Investments LLC OH now owns 66,949 shares of the computer hardware maker’s stock worth $8,130,000 after purchasing an additional 4,881 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 3.3 %

Shares of NASDAQ NVDA opened at $141.98 on Friday. 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 market cap of $3.48 trillion, a price-to-earnings ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $149.77. The firm’s 50-day simple moving average is $130.18 and its 200 day simple moving average is $119.70.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS 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 business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. On average, research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last 90 days. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Loop Capital reiterated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. HSBC upped their price objective on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI raised their target price on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Robert W. Baird upped their price target on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC raised their price objective on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

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.