NVIDIA Co. (NASDAQ:NVDA) is Bleakley Financial Group LLC’s 9th Largest Position

Bleakley Financial Group LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 545,828 shares of the computer hardware maker’s stock after buying an additional 54,942 shares during the quarter. NVIDIA comprises 2.0% of Bleakley Financial Group LLC’s investment portfolio, making the stock its 9th biggest holding. Bleakley Financial Group LLC’s holdings in NVIDIA were worth $66,285,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Greenup Street Wealth Management LLC grew its position in NVIDIA by 48.7% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 53,374 shares of the computer hardware maker’s stock worth $6,482,000 after purchasing an additional 17,492 shares during the last quarter. Buffington Mohr McNeal grew its holdings in shares of NVIDIA by 2.5% during the third quarter. Buffington Mohr McNeal now owns 9,208 shares of the computer hardware maker’s stock worth $1,118,000 after buying an additional 223 shares during the last quarter. LifeSteps Financial Inc. increased its position in NVIDIA by 5.2% in the 3rd quarter. LifeSteps Financial Inc. now owns 53,330 shares of the computer hardware maker’s stock valued at $6,476,000 after acquiring an additional 2,627 shares during the period. Global Retirement Partners LLC raised its stake in NVIDIA by 10.7% during the 3rd quarter. Global Retirement Partners LLC now owns 500,475 shares of the computer hardware maker’s stock valued at $60,778,000 after acquiring an additional 48,269 shares during the last quarter. Finally, Melfa Wealth Management Inc. lifted its position in NVIDIA by 1.6% during the 3rd quarter. Melfa Wealth Management Inc. now owns 13,435 shares of the computer hardware maker’s stock worth $1,632,000 after acquiring an additional 215 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. In 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 company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVDA. Piper Sandler upped their price target on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Citigroup lifted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial increased their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday. Sanford C. Bernstein boosted their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Five investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.82.

NVIDIA Stock Up 0.6 %

Shares of NASDAQ:NVDA opened at $146.71 on Friday. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The stock’s 50-day moving average price is $133.55 and its two-hundred day moving average price is $121.72. 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 firm has a market cap of $3.60 trillion, a price-to-earnings ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. On average, research analysts forecast that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

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.