NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Legacy Financial Strategies LLC

Legacy Financial Strategies LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 13.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,263 shares of the computer hardware maker’s stock after acquiring an additional 4,751 shares during the quarter. NVIDIA accounts for about 1.1% of Legacy Financial Strategies LLC’s holdings, making the stock its 12th largest position. Legacy Financial Strategies LLC’s holdings in NVIDIA were worth $5,011,000 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. ST Germain D J Co. Inc. increased its stake 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 buying an additional 181 shares during the period. Continuum Wealth Advisors LLC boosted its holdings in NVIDIA by 70.6% in the 3rd quarter. Continuum Wealth Advisors LLC now owns 3,787 shares of the computer hardware maker’s stock valued at $460,000 after purchasing an additional 1,567 shares during the period. Schubert & Co bought a new stake in NVIDIA in the 3rd quarter valued at $410,000. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of NVIDIA by 15.1% during the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 748,789 shares of the computer hardware maker’s stock worth $90,940,000 after acquiring an additional 97,975 shares during the period. Finally, Chronos Wealth Management LLC lifted its holdings in shares of NVIDIA by 8.4% during the 3rd quarter. Chronos Wealth Management LLC now owns 1,827 shares of the computer hardware maker’s stock worth $222,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on 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 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. In the last 90 days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Down 3.2 %

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

NVIDIA (NASDAQ:NVDA) last issued 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 during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Analysts predict that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NVDA shares. TD Cowen increased their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. 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. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday. Truist Financial lifted their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Monday, November 18th. Four 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.