NVIDIA Co. (NASDAQ:NVDA) is Oxler Private Wealth LLC’s 9th Largest Position

Oxler Private Wealth LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,839 shares of the computer hardware maker’s stock after purchasing an additional 1,288 shares during the quarter. NVIDIA makes up about 3.5% of Oxler Private Wealth LLC’s investment portfolio, making the stock its 9th biggest position. Oxler Private Wealth LLC’s holdings in NVIDIA were worth $9,939,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the 1st quarter worth about $27,000. HBC Financial Services PLLC acquired a new stake in shares of NVIDIA in the first quarter worth approximately $30,000. TCTC Holdings LLC purchased a new stake in NVIDIA in the first quarter valued at approximately $82,000. Finally, Delos Wealth Advisors LLC increased its position in NVIDIA by 600.0% during the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock worth $101,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Susquehanna lifted their target price on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday. Citigroup boosted their price target on NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday. Craig Hallum raised their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Bank of America boosted their target price on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Five investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $152.40.

Insider Transactions at NVIDIA

In other NVIDIA news, 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 value 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. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

NVDA stock opened at $141.98 on Friday. The stock’s 50 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 P/E ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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 company 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 company earned $0.25 earnings per share. The firm’s revenue was up 122.4% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.