Paladin Wealth LLC Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

Paladin Wealth LLC acquired a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,068 shares of the computer hardware maker’s stock, valued at approximately $2,316,000. NVIDIA accounts for approximately 2.0% of Paladin Wealth LLC’s portfolio, making the stock its 10th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the first quarter valued at about $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the 1st quarter worth approximately $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NVDA shares. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. Mizuho boosted their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Westpark Capital increased their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Stock Performance

Shares of NVDA stock opened at $141.98 on Friday. The company’s fifty day simple moving average is $130.97 and its 200-day simple moving average is $120.08. 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 Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The company has a market cap of $3.48 trillion, a PE ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA announced that its board has initiated 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company 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.