Global Assets Advisory LLC Purchases New Stake in NVIDIA Co. (NASDAQ:NVDA)

Global Assets Advisory LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 84,716 shares of the computer hardware maker’s stock, valued at approximately $9,912,000. NVIDIA comprises approximately 5.1% of Global Assets Advisory LLC’s holdings, making the stock its 4th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the second quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the last quarter. CGC Financial Services LLC purchased a new position in shares of NVIDIA during the 2nd quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the 1st quarter worth about $27,000. Finally, Quest Partners LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Up 0.3 %

NASDAQ:NVDA opened at $138.63 on Tuesday. The company has a market capitalization of $3.40 trillion, a PE ratio of 54.58, a P/E/G 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 stock’s 50 day moving average price is $136.05 and its 200 day moving average price is $124.11. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping 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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the firm posted $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, research analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

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

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $107.44, for a total transaction of $12,892,800.00. Following the completion of the sale, the chief executive officer now directly owns 76,135,836 shares of the company’s stock, valued at approximately $8,180,034,219.84. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction that occurred on 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. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,916,986 shares of company stock valued at $227,311,199. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NVDA shares. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price target (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. TD Cowen lifted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Piper Sandler raised their price target on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Evercore ISI boosted their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Truist Financial raised their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.15.

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.