Mogy Joel R Investment Counsel Inc. Acquires 3,670 Shares of NVIDIA Co. (NASDAQ:NVDA)

Mogy Joel R Investment Counsel Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,441,091 shares of the computer hardware maker’s stock after buying an additional 3,670 shares during the quarter. NVIDIA accounts for 10.7% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in NVIDIA were worth $175,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. TCTC Holdings LLC bought a new stake in shares of NVIDIA during the 1st quarter worth approximately $82,000. Delos Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 600.0% during the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock valued at $101,000 after acquiring an additional 96 shares in the last quarter. Finally, Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the second quarter worth $25,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

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

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, analysts expect that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid 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 dividend payout ratio is 1.57%.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s 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 transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock worth $254,784,327. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report 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 report on Monday, November 11th. Benchmark upped their price target on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday. DA Davidson upped their target price on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Citigroup upped their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.15.

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.