NVIDIA Co. (NASDAQ:NVDA) Stock Position Increased by Fortis Group Advisors LLC

Fortis Group Advisors LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,116 shares of the computer hardware maker’s stock after purchasing an additional 477 shares during the quarter. Fortis Group Advisors LLC’s holdings in NVIDIA were worth $1,957,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the 1st quarter valued at about $27,000. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the 3rd quarter valued at about $27,000. Finally, CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter valued at about $26,000. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated 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 sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents 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 the SEC website. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,036,986 shares of company stock valued at $240,602,399. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Up 2.2 %

NVDA stock opened at $138.25 on Friday. 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 Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The stock has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 54.41, a PEG ratio of 2.45 and a beta of 1.66. The business’s fifty day moving average price is $136.05 and its two-hundred 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 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $0.38 earnings per share. NVIDIA’s revenue was up 93.6% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA declared that its board has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, August 6th. Redburn Atlantic started coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Robert W. Baird lifted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company lifted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.