14,531 Shares in NVIDIA Co. (NASDAQ:NVDA) Purchased by Accelerate Investment Advisors LLC

Accelerate Investment Advisors LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 14,531 shares of the computer hardware maker’s stock, valued at approximately $1,765,000. NVIDIA accounts for about 1.7% of Accelerate Investment Advisors LLC’s portfolio, making the stock its 14th biggest position.

Several other hedge funds have also recently bought and sold shares of NVDA. Paladin Wealth LLC bought a new position in NVIDIA during the 3rd quarter worth $2,316,000. VitalStone Financial LLC boosted its position in shares of NVIDIA by 8.3% in the third quarter. VitalStone Financial LLC now owns 30,382 shares of the computer hardware maker’s stock valued at $3,690,000 after acquiring an additional 2,319 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of NVIDIA by 44.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 98,460 shares of the computer hardware maker’s stock valued at $11,957,000 after acquiring an additional 30,085 shares in the last quarter. Oliver Luxxe Assets LLC increased its position in NVIDIA by 6.6% during the third quarter. Oliver Luxxe Assets LLC now owns 2,345 shares of the computer hardware maker’s stock worth $285,000 after acquiring an additional 145 shares during the period. Finally, Smith Chas P & Associates PA Cpas raised its stake in NVIDIA by 15.3% in the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 19,392 shares of the computer hardware maker’s stock worth $2,355,000 after purchasing an additional 2,566 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVDA stock 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’s fifty day simple moving average is $130.97 and its 200 day simple moving average is $120.08. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $149.77. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 66.66, a PEG ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its 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. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 EPS. On average, analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current year.

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

NVIDIA Cuts Dividend

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

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 in the last quarter. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NVDA shares. Wedbush reaffirmed an “outperform” rating and set a $160.00 target price (up from $138.00) on shares of NVIDIA in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Susquehanna increased their target price on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Raymond James upped their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $152.40.

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.