NVIDIA Co. (NASDAQ:NVDA) Stake Boosted by RFG Advisory LLC

RFG Advisory LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 18.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,964 shares of the computer hardware maker’s stock after buying an additional 28,670 shares during the period. NVIDIA makes up about 0.7% of RFG Advisory LLC’s investment portfolio, making the stock its 18th largest holding. RFG Advisory LLC’s holdings in NVIDIA were worth $22,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Legal & General Group Plc boosted its position in shares of 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 during the period. Bank of New York Mellon Corp boosted its position in shares of NVIDIA by 854.1% during the second 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 buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. boosted its position in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 3.2 %

Shares of NASDAQ:NVDA opened at $141.95 on Friday. The stock has a market capitalization 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 1 year low of $45.01 and a 1 year high of $152.89. The firm has a fifty day moving average price of $134.01 and a 200 day moving average price of $122.06. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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 company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. Analysts expect that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

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

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the 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 owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVDA. Needham & Company LLC boosted their price objective on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer restated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday. Piper Sandler upped their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Wedbush upped their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Redburn Atlantic assumed coverage on NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.