Penn Davis Mcfarland Inc. Acquires 575,520 Shares of NVIDIA Co. (NASDAQ:NVDA)

Penn Davis Mcfarland Inc. lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2,536.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 598,210 shares of the computer hardware maker’s stock after buying an additional 575,520 shares during the period. NVIDIA comprises about 8.2% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its 2nd biggest holding. Penn Davis Mcfarland Inc.’s holdings in NVIDIA were worth $72,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hamilton Wealth LLC boosted its holdings in shares of NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after buying an additional 9 shares in the last quarter. Poehling Capital Management INC. lifted its position in shares of NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after acquiring an additional 14 shares during the period. FSA Wealth Management LLC boosted its stake in NVIDIA by 3.0% during the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after acquiring an additional 14 shares in the last quarter. Clean Yield Group grew its holdings in NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after purchasing an additional 15 shares during the period. Finally, Earnest Partners LLC increased its stake in NVIDIA by 1.5% in the first quarter. Earnest Partners LLC now owns 1,133 shares of the computer hardware maker’s stock valued at $1,024,000 after purchasing an additional 17 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on 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 owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The shares were 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 in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $136.92 on Wednesday. The firm has a fifty day simple moving average of $134.82 and a two-hundred day simple moving average of $123.17. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The company has a market capitalization of $3.35 trillion, a PE ratio of 53.88, a P/E/G ratio of 2.60 and a beta of 1.66. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 firm 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 company posted $0.38 earnings per share. The business’s revenue was up 93.6% on a year-over-year basis. Research analysts expect that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA announced that its board has authorized a stock buyback plan 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Loop Capital restated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. TD Cowen upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Sanford C. Bernstein lifted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, 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 research report on Tuesday, August 6th. Four investment 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.