Acorn Creek Capital LLC Buys 5,283 Shares of NVIDIA Co. (NASDAQ:NVDA)

Acorn Creek Capital LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 43.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,561 shares of the computer hardware maker’s stock after acquiring an additional 5,283 shares during the period. NVIDIA makes up approximately 1.1% of Acorn Creek Capital LLC’s investment portfolio, making the stock its 15th largest position. Acorn Creek Capital LLC’s holdings in NVIDIA were worth $2,133,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI increased their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. The Goldman Sachs Group boosted their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Wedbush restated an “outperform” rating and set a $160.00 target price (up from $138.00) on shares of NVIDIA in a research note on Thursday, November 14th. JPMorgan Chase & Co. lifted their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Mizuho boosted their price target on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.40.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.3 %

Shares of NASDAQ NVDA opened at $140.15 on Tuesday. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $149.77. 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 firm has a market cap of $3.44 trillion, a PE ratio of 65.74, a P/E/G ratio of 1.49 and a beta of 1.66. The company’s fifty day simple moving average is $131.64 and its 200 day simple moving average is $120.96.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) 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 quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue was up 122.4% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.67 earnings per share for the current fiscal 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

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

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.