Narus Financial Partners LLC Has $3.67 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Narus Financial Partners LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,216 shares of the computer hardware maker’s stock after buying an additional 154 shares during the period. NVIDIA comprises about 1.3% of Narus Financial Partners LLC’s investment portfolio, making the stock its 9th biggest position. Narus Financial Partners LLC’s holdings in NVIDIA were worth $3,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent analyst reports. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, August 6th. UBS Group raised their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Needham & Company LLC boosted their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. 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 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

NVDA stock opened at $136.92 on Wednesday. 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 $3.35 trillion, a P/E ratio of 53.88, a P/E/G ratio of 2.60 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business’s 50-day moving average is $134.82 and its two-hundred day moving average is $123.17.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.73 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA announced that its board has approved 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value 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 $1,071,402,475.59. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. Insiders own 4.23% of the company’s stock.

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.