NVIDIA Co. (NASDAQ:NVDA) is Heirloom Wealth Management’s 5th Largest Position

Heirloom Wealth Management lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,052 shares of the computer hardware maker’s stock after buying an additional 3,459 shares during the period. NVIDIA comprises 6.5% of Heirloom Wealth Management’s investment portfolio, making the stock its 5th biggest holding. Heirloom Wealth Management’s holdings in NVIDIA were worth $20,894,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after acquiring an additional 13,135 shares during the period. BCGM Wealth Management LLC grew its holdings in NVIDIA by 69.9% during the 1st quarter. BCGM Wealth Management LLC now owns 1,402 shares of the computer hardware maker’s stock valued at $1,267,000 after buying an additional 577 shares during the last quarter. Montag A & Associates Inc. grew its holdings in NVIDIA by 19.0% during the 1st quarter. Montag A & Associates Inc. now owns 15,253 shares of the computer hardware maker’s stock valued at $13,782,000 after buying an additional 2,438 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in NVIDIA by 10.6% during the 1st quarter. Atomi Financial Group Inc. now owns 15,652 shares of the computer hardware maker’s stock valued at $14,142,000 after buying an additional 1,496 shares during the last quarter. Finally, Keudell Morrison Wealth Management grew its position in shares of NVIDIA by 1.2% in the first quarter. Keudell Morrison Wealth Management now owns 2,013 shares of the computer hardware maker’s stock valued at $1,819,000 after purchasing an additional 24 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 3.2 %

NASDAQ NVDA opened at $141.95 on Friday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. 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 capitalization of $3.48 trillion, a PE ratio of 66.58, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The firm’s fifty day simple moving average is $134.01 and its 200-day simple moving average is $122.06.

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

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were 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 in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, 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 have sold 2,156,270 shares of company stock valued at $254,784,327 over the last three months. 4.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

NVDA has been the topic of a number of research analyst reports. Truist Financial lifted their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday. Westpark Capital boosted their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Citigroup boosted their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley boosted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Wedbush boosted their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday. Four 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. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.