Sterling Investment Counsel LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Sterling Investment Counsel LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 35.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 38,588 shares of the computer hardware maker’s stock after purchasing an additional 10,037 shares during the period. NVIDIA makes up approximately 1.7% of Sterling Investment Counsel LLC’s portfolio, making the stock its 14th biggest holding. Sterling Investment Counsel LLC’s holdings in NVIDIA were worth $4,686,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. University of Texas Texas AM Investment Management Co. boosted its stake in NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Truepoint Inc. lifted its stake in shares of NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after acquiring an additional 208,362 shares during the last quarter. Narwhal Capital Management grew its stake in NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after acquiring an additional 26,373 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of the business’s 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 completion of the transaction, the chief financial officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,036,986 shares of company stock valued at $240,602,399. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Citigroup boosted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Morgan Stanley increased their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. The Goldman Sachs Group upped their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, 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 note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Up 2.2 %

NVIDIA stock opened at $138.25 on Monday. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89. The company’s fifty day moving average price is $136.05 and its two-hundred day moving average price is $124.11. 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 company 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 (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating 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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

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

NVIDIA Announces Dividend

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

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.