Mattern Wealth Management LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Mattern Wealth Management LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,265 shares of the computer hardware maker’s stock after purchasing an additional 2,045 shares during the period. NVIDIA accounts for 0.9% of Mattern Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position. Mattern Wealth Management LLC’s holdings in NVIDIA were worth $4,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. grew its position in 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 acquiring an additional 190 shares during the period. CGC Financial Services LLC purchased a new stake in NVIDIA during the second quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the first quarter valued at about $27,000. Finally, Quest Partners LLC purchased a new stake in NVIDIA during the second quarter valued at about $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NVDA. UBS Group boosted their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Stifel Nicolaus increased their target price on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company increased their target price on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Four 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Up 2.2 %

NVDA opened at $138.25 on Friday. NVIDIA Co. has a 12 month low of $45.01 and a 12 month 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 stock has a market cap of $3.39 trillion, a P/E ratio of 54.41, a P/E/G ratio of 2.45 and a beta of 1.66. The stock’s 50 day moving average price is $136.05 and its 200 day moving average price is $123.67.

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, 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 for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, research analysts predict that NVIDIA Co. will post 2.76 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 given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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

Insider Activity

In other news, CFO Colette Kress sold 66,670 shares of the firm’s 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 sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’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 directly owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,036,986 shares of company stock worth $240,602,399. 4.23% of the stock is owned by company insiders.

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.