Drake & Associates LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Drake & Associates LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 23.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,616 shares of the computer hardware maker’s stock after acquiring an additional 1,260 shares during the period. NVIDIA makes up about 0.3% of Drake & Associates LLC’s investment portfolio, making the stock its 29th biggest position. Drake & Associates LLC’s holdings in NVIDIA were worth $803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Trust Co. of Vermont grew its holdings in shares of NVIDIA by 6.4% in the 3rd quarter. Trust Co. of Vermont now owns 316,932 shares of the computer hardware maker’s stock worth $38,488,000 after acquiring an additional 18,948 shares during the period. Secure Asset Management LLC grew its holdings in shares of NVIDIA by 8.1% in the 3rd quarter. Secure Asset Management LLC now owns 187,950 shares of the computer hardware maker’s stock worth $22,825,000 after acquiring an additional 14,156 shares during the period. Marshall Financial Group LLC grew its holdings in shares of NVIDIA by 0.8% in the 3rd quarter. Marshall Financial Group LLC now owns 82,116 shares of the computer hardware maker’s stock worth $9,972,000 after acquiring an additional 655 shares during the period. Trifecta Capital Advisors LLC grew its holdings in shares of NVIDIA by 1.0% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 208,151 shares of the computer hardware maker’s stock worth $25,278,000 after acquiring an additional 2,025 shares during the period. Finally, Teamwork Financial Advisors LLC grew its holdings in shares of NVIDIA by 3.8% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 211,546 shares of the computer hardware maker’s stock worth $25,690,000 after acquiring an additional 7,833 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 3.2 %

Shares of NVDA opened at $141.95 on Friday. The stock’s 50-day moving average is $134.01 and its two-hundred day moving average is $122.06. The stock has a market cap of $3.48 trillion, a PE ratio of 66.58, a P/E/G ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

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

NVIDIA declared that its board has approved a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVDA. Redburn Atlantic began coverage on NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Craig Hallum increased their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Morgan Stanley increased their target price on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Loop Capital reiterated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday. Finally, The Goldman Sachs Group increased their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.16 % 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 value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade 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 worth $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

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.