NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Shira Ridge Wealth Management

Shira Ridge Wealth Management lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,416 shares of the computer hardware maker’s stock after acquiring an additional 100 shares during the quarter. Shira Ridge Wealth Management’s holdings in NVIDIA were worth $658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the 1st quarter worth $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA in the 2nd quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the first quarter worth $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NVDA shares. The Goldman Sachs Group increased their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Morgan Stanley lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Sanford C. Bernstein increased 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. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. 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 Price Performance

Shares of NVIDIA stock opened at $141.98 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 company has a market cap of $3.48 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The firm has a fifty day moving average price of $130.18 and a two-hundred day moving average price of $119.70. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77.

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 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 during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given 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 dividend payout ratio (DPR) is currently 1.88%.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the transaction, the chief executive officer now owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % 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 valued at $254,784,327 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

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.