NVIDIA Co. (NASDAQ:NVDA) is Precision Wealth Strategies LLC’s 3rd Largest Position

Precision Wealth Strategies LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 87.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,316 shares of the computer hardware maker’s stock after acquiring an additional 23,460 shares during the quarter. NVIDIA accounts for about 5.7% of Precision Wealth Strategies LLC’s portfolio, making the stock its 3rd largest position. Precision Wealth Strategies LLC’s holdings in NVIDIA were worth $6,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of NVDA. Waterway Wealth Management LLC increased its stake in shares of NVIDIA by 1.9% during the third quarter. Waterway Wealth Management LLC now owns 29,908 shares of the computer hardware maker’s stock worth $3,632,000 after buying an additional 567 shares during the period. Raleigh Capital Management Inc. grew its holdings in NVIDIA by 6.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 32,936 shares of the computer hardware maker’s stock worth $4,000,000 after acquiring an additional 1,967 shares in the last quarter. Horst & Graben Wealth Management LLC grew its holdings in NVIDIA by 1.5% during the 3rd quarter. Horst & Graben Wealth Management LLC now owns 34,969 shares of the computer hardware maker’s stock worth $4,247,000 after acquiring an additional 502 shares in the last quarter. Integrity Wealth Solutions LLC increased its position in shares of NVIDIA by 54.0% in the 3rd quarter. Integrity Wealth Solutions LLC now owns 33,015 shares of the computer hardware maker’s stock valued at $4,010,000 after purchasing an additional 11,583 shares during the last quarter. Finally, Community Financial Services Group LLC raised its holdings in shares of NVIDIA by 20.4% in the 3rd quarter. Community Financial Services Group LLC now owns 136,971 shares of the computer hardware maker’s stock valued at $16,634,000 after purchasing an additional 23,172 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’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 sale, the chief executive officer now owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,036,986 shares of company stock valued at $240,602,399 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several recent analyst reports. Raymond James increased their target price on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Susquehanna increased their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Wells Fargo & Company raised their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Redburn Atlantic assumed coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Four equities research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Down 1.2 %

NVIDIA stock opened at $135.34 on Friday. The stock’s 50 day moving average price is $135.61 and its 200 day moving average price is $123.34. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The company has a market cap of $3.31 trillion, a PE ratio of 53.28, a price-to-earnings-growth ratio of 2.46 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.

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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the firm earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

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.