Proathlete Wealth Management LLC Has $1.97 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Proathlete Wealth Management LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,227 shares of the computer hardware maker’s stock after acquiring an additional 243 shares during the quarter. NVIDIA accounts for approximately 0.8% of Proathlete Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. Proathlete Wealth Management LLC’s holdings in NVIDIA were worth $1,971,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares in the last quarter. CGC Financial Services LLC bought a new stake in NVIDIA during the 2nd quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the 1st quarter worth about $27,000. Finally, Quest Partners LLC bought a new stake in shares of NVIDIA during the second quarter worth about $27,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 4.2 %

NVIDIA stock opened at $136.02 on Tuesday. The firm has a 50 day simple moving average of $134.39 and a 200 day simple moving average of $122.84. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The firm has a market capitalization of $3.33 trillion, a price-to-earnings ratio of 53.53, a P/E/G ratio of 2.60 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, analysts predict that NVIDIA Co. will post 2.73 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA declared that its board has initiated a share repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

NVDA has been the topic of a number of research reports. Phillip Securities reissued an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a report on Friday. Wedbush increased their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. DA Davidson increased their price target on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Morgan Stanley upped their target price on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction 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 directly owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

NVIDIA 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.