Melfa Wealth Management Inc. Has $1.63 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Melfa Wealth Management Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,435 shares of the computer hardware maker’s stock after buying an additional 215 shares during the quarter. NVIDIA makes up about 1.1% of Melfa Wealth Management Inc.’s portfolio, making the stock its 21st biggest position. Melfa Wealth Management Inc.’s holdings in NVIDIA were worth $1,632,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Quad Cities Investment Group LLC boosted its stake in NVIDIA by 5.5% in the 3rd quarter. Quad Cities Investment Group LLC now owns 22,989 shares of the computer hardware maker’s stock valued at $2,792,000 after purchasing an additional 1,193 shares during the period. Financial Advisors LLC raised its holdings in shares of NVIDIA by 3.6% during the 3rd quarter. Financial Advisors LLC now owns 2,792 shares of the computer hardware maker’s stock worth $339,000 after buying an additional 98 shares in the last quarter. Orin Green Financial LLC increased its holdings in NVIDIA by 50.6% in the 3rd quarter. Orin Green Financial LLC now owns 6,340 shares of the computer hardware maker’s stock worth $770,000 after purchasing an additional 2,130 shares in the last quarter. One Wealth Advisors LLC increased its holdings in NVIDIA by 1.3% in the 3rd quarter. One Wealth Advisors LLC now owns 17,228 shares of the computer hardware maker’s stock worth $2,092,000 after purchasing an additional 223 shares in the last quarter. Finally, Naviter Wealth LLC increased its stake in shares of NVIDIA by 14.7% in the third quarter. Naviter Wealth LLC now owns 129,254 shares of the computer hardware maker’s stock valued at $15,698,000 after buying an additional 16,520 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’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 completion of the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % 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 worth $254,784,327 over the last ninety days. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of several research analyst reports. Redburn Atlantic initiated coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Wells Fargo & Company upped their target price on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. DA Davidson reiterated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Evercore ISI increased their price target on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Piper Sandler increased their price target on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.82.

NVIDIA Stock Performance

Shares of NVDA opened at $146.71 on Friday. 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 stock has a market cap of $3.60 trillion, a P/E ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. The company has a 50-day moving average of $133.55 and a two-hundred day moving average of $121.72. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 earnings per share. As a group, research analysts predict that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

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

NVIDIA Dividend Announcement

The firm 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. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

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.