Lee Johnson Capital Management LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1,574.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,764 shares of the computer hardware maker’s stock after acquiring an additional 38,329 shares during the period. NVIDIA accounts for about 2.5% of Lee Johnson Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Lee Johnson Capital Management LLC’s holdings in NVIDIA were worth $4,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the stock. Petix & Botte Co grew its stake in NVIDIA by 3.8% in the third quarter. Petix & Botte Co now owns 10,674 shares of the computer hardware maker’s stock worth $1,296,000 after purchasing an additional 394 shares in the last quarter. Stegent Equity Advisors Inc. bought a new stake in shares of NVIDIA during the 3rd quarter valued at about $403,000. Rede Wealth LLC grew its position in shares of NVIDIA by 0.8% during the 3rd quarter. Rede Wealth LLC now owns 30,319 shares of the computer hardware maker’s stock valued at $3,682,000 after buying an additional 226 shares during the last quarter. OLD National Bancorp IN raised its stake in NVIDIA by 124.9% during the third quarter. OLD National Bancorp IN now owns 334,513 shares of the computer hardware maker’s stock worth $40,623,000 after acquiring an additional 185,807 shares during the period. Finally, Essex LLC lifted its holdings in NVIDIA by 0.5% in the third quarter. Essex LLC now owns 36,481 shares of the computer hardware maker’s stock worth $4,430,000 after acquiring an additional 187 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on NVDA. Craig Hallum lifted their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. DA Davidson raised their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Melius Research increased their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Stifel Nicolaus boosted their price objective on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. Four research 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 stock. According to data from MarketBeat.com, the stock currently 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 the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares in the company, valued at $8,459,373,085.80. This represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last quarter. Company insiders own 4.23% of the company’s stock.
NVIDIA Trading Up 0.7 %
Shares of NASDAQ NVDA 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 company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a 50-day moving average of $134.82 and a 200 day moving average of $123.17. The stock has a market cap of $3.35 trillion, a P/E ratio of 53.88, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66.
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings data 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the business earned $0.38 EPS. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Co. will post 2.73 EPS for the current fiscal year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. 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 1.57%.
NVIDIA announced that its board has initiated a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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.
Further Reading
- Five stocks we like better than NVIDIA
- How Investors Can Find the Best Cheap Dividend Stocks
- Cerence Up 155% in 2 Days: SoundHound AI’s Fierce Competitor
- Investing in Commodities: What Are They? How to Invest in Them
- Why Warren Buffett Is Selling: A Look at His Latest Market Moves
- The 3 Best Retail Stocks to Shop for in August
- Why Amazon Shares May Never Trade Below $200 Again
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA – Free Report).
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.