Clarity Wealth Advisors LLC Has $6.94 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Clarity Wealth Advisors LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,145 shares of the computer hardware maker’s stock after acquiring an additional 841 shares during the quarter. NVIDIA accounts for about 2.0% of Clarity Wealth Advisors LLC’s holdings, making the stock its 15th largest position. Clarity Wealth Advisors LLC’s holdings in NVIDIA were worth $6,940,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Gries Financial LLC grew its position in NVIDIA by 63.9% in the third quarter. Gries Financial LLC now owns 52,197 shares of the computer hardware maker’s stock worth $6,339,000 after acquiring an additional 20,350 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in shares of NVIDIA by 40.9% during the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 62,000 shares of the computer hardware maker’s stock worth $7,529,000 after buying an additional 18,000 shares during the period. Alecta Tjanstepension Omsesidigt boosted its holdings in NVIDIA by 44.3% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 3,969,500 shares of the computer hardware maker’s stock valued at $482,255,000 after purchasing an additional 1,218,500 shares during the period. Legacy Financial Strategies LLC boosted its holdings in NVIDIA by 13.0% in the 3rd quarter. Legacy Financial Strategies LLC now owns 41,263 shares of the computer hardware maker’s stock valued at $5,011,000 after purchasing an additional 4,751 shares during the period. Finally, ST Germain D J Co. Inc. boosted its holdings in NVIDIA by 1.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 18,501 shares of the computer hardware maker’s stock valued at $2,247,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 3.2 %

Shares of NVIDIA stock opened at $141.95 on Monday. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89. The stock’s 50-day simple moving average is $134.01 and its 200 day simple moving average is $122.51. The stock has a market capitalization of $3.48 trillion, a P/E ratio of 55.89, a P/E/G ratio of 1.53 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.79 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. As a group, research analysts anticipate that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA declared that its Board of Directors has approved a stock buyback plan 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wedbush increased their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday. Bank of America restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday. Citigroup raised their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Evercore ISI raised their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $164.15.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last quarter. 4.23% of the stock is owned by corporate insiders.

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.