Eagle Bay Advisors LLC Acquires 109 Shares of NVIDIA Co. (NASDAQ:NVDA)

Eagle Bay Advisors LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,127 shares of the computer hardware maker’s stock after buying an additional 109 shares during the quarter. Eagle Bay Advisors LLC’s holdings in NVIDIA were worth $1,594,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Foundry Financial Group Inc. boosted its position in shares of NVIDIA by 5.9% in the third quarter. Foundry Financial Group Inc. now owns 4,291 shares of the computer hardware maker’s stock valued at $521,000 after acquiring an additional 239 shares during the period. Iron Horse Wealth Management LLC raised its stake in NVIDIA by 17.4% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 587 shares of the computer hardware maker’s stock valued at $71,000 after purchasing an additional 87 shares during the last quarter. Sterling Investment Counsel LLC boosted its holdings in NVIDIA by 35.2% in the 3rd quarter. Sterling Investment Counsel LLC now owns 38,588 shares of the computer hardware maker’s stock valued at $4,686,000 after purchasing an additional 10,037 shares during the period. BetterWealth LLC grew its position in NVIDIA by 0.9% in the 3rd quarter. BetterWealth LLC now owns 17,526 shares of the computer hardware maker’s stock worth $2,128,000 after purchasing an additional 150 shares during the last quarter. Finally, Coston McIsaac & Partners increased its holdings in shares of NVIDIA by 12.2% during the 3rd quarter. Coston McIsaac & Partners now owns 1,040 shares of the computer hardware maker’s stock worth $126,000 after purchasing an additional 113 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the transaction, the director now owns 8,420,117 shares in the company, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,036,986 shares of company stock valued at $240,602,399 over the last ninety days. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NVDA. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Morgan Stanley raised their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Citigroup boosted their price objective on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Craig Hallum upped their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. 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 Up 2.2 %

Shares of NVDA opened at $138.25 on Monday. The business’s fifty day moving average price is $136.05 and its two-hundred day moving average price is $124.11. The firm has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 54.43, a PEG ratio of 2.50 and a beta of 1.66. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized a share repurchase plan 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

The firm 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 is 1.57%.

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.