Fiduciary Alliance LLC Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Fiduciary Alliance LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 28.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 157,762 shares of the computer hardware maker’s stock after buying an additional 34,493 shares during the period. NVIDIA comprises approximately 2.5% of Fiduciary Alliance LLC’s investment portfolio, making the stock its 6th biggest position. Fiduciary Alliance LLC’s holdings in NVIDIA were worth $19,159,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NVDA. Vanguard Group Inc. raised its holdings in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. Legal & General Group Plc grew its position in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp raised its stake in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Raymond James increased their price objective on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Craig Hallum raised their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird lifted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Benchmark reaffirmed a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five 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’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Price Performance

NASDAQ:NVDA opened at $141.98 on Monday. 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 stock has a market cap of $3.48 trillion, a P/E ratio of 66.60, a PEG ratio of 1.49 and a beta of 1.66. The company has a fifty day moving average price of $130.97 and a 200 day moving average price of $120.58. NVIDIA Co. has a one year low of $45.01 and a one year 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. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue was up 122.4% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. Analysts anticipate that NVIDIA Co. will post 2.67 earnings per share for the current year.

NVIDIA announced that its board has approved a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

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

NVIDIA 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.