Petredis Investment Advisors LLC Purchases 1,106 Shares of NVIDIA Co. (NASDAQ:NVDA)

Petredis Investment Advisors LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 426,638 shares of the computer hardware maker’s stock after acquiring an additional 1,106 shares during the quarter. NVIDIA comprises 5.5% of Petredis Investment Advisors LLC’s portfolio, making the stock its 4th biggest position. Petredis Investment Advisors LLC’s holdings in NVIDIA were worth $51,811,000 at the end of the most recent quarter.

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

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.3 %

Shares of NVDA stock opened at $140.15 on Tuesday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The business’s fifty day moving average is $131.64 and its 200-day moving average is $120.96. The stock has a market cap of $3.44 trillion, a PE ratio of 65.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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 return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the company earned $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Oppenheimer upped their price target on shares of NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Westpark Capital upped their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.