Asset Planning Services Inc. LA ADV Has $31.26 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Asset Planning Services Inc. LA ADV reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 0.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 257,400 shares of the computer hardware maker’s stock after selling 500 shares during the period. NVIDIA accounts for approximately 15.5% of Asset Planning Services Inc. LA ADV’s portfolio, making the stock its largest holding. Asset Planning Services Inc. LA ADV’s holdings in NVIDIA were worth $31,259,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. raised its stake in shares of 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 valued at $14,715,000 after purchasing an additional 107,169 shares during the period. Truepoint Inc. boosted its position 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 valued at $1,605,000 after acquiring an additional 11,709 shares during the period. Westwood Holdings Group Inc. increased its holdings in NVIDIA by 683.9% during the 2nd 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 period. Narwhal Capital Management lifted its stake in NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after purchasing an additional 26,373 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the subject of several recent analyst reports. DA Davidson boosted their target price on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Wells Fargo & Company lifted their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Wedbush upped their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Westpark Capital lifted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $138.63 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $136.05 and its 200 day simple moving average is $124.11. The stock has a market cap of $3.40 trillion, a P/E ratio of 54.58, a price-to-earnings-growth ratio of 2.50 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA declared that its Board of Directors 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, 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 the stock in a transaction dated Monday, November 25th. The shares were 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,916,986 shares of company stock worth $227,311,199. Insiders own 4.23% of the company’s stock.

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.