PCG Wealth Advisors LLC Purchases 1,271 Shares of NVIDIA Co. (NASDAQ:NVDA)

PCG Wealth Advisors LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,076 shares of the computer hardware maker’s stock after buying an additional 1,271 shares during the quarter. PCG Wealth Advisors LLC’s holdings in NVIDIA were worth $2,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Legal & General Group Plc grew its position in 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 worth $26,329,751,000 after buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 worth $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in 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 valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $145.89 on Thursday. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $149.77. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.58 trillion, a P/E ratio of 68.49, a PEG ratio of 1.49 and a beta of 1.66. The firm has a fifty day moving average price of $133.00 and a 200 day moving average price of $121.54.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. Sell-side analysts predict that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

Analysts Set New Price Targets

Several brokerages recently commented on NVDA. Bank of America increased their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Mizuho boosted their price objective on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Melius Research lifted their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Craig Hallum upped their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, HSBC boosted their target price on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Five 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, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.63.

NVIDIA Company 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.