NVIDIA Co. (NASDAQ:NVDA) is Grassi Investment Management’s Largest Position

Grassi Investment Management raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,691,840 shares of the computer hardware maker’s stock after purchasing an additional 21,040 shares during the period. NVIDIA comprises 17.8% of Grassi Investment Management’s holdings, making the stock its largest position. Grassi Investment Management’s holdings in NVIDIA were worth $205,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NVDA. Greystone Financial Group LLC lifted its stake in shares of NVIDIA by 61.2% in the third quarter. Greystone Financial Group LLC now owns 32,563 shares of the computer hardware maker’s stock worth $3,954,000 after buying an additional 12,368 shares in the last quarter. Hoertkorn Richard Charles lifted its stake in NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of NVIDIA during the third quarter worth about $9,912,000. Franklin Parlapiano Turner & Welch LLC raised its stake in shares of NVIDIA by 46.2% in the third quarter. Franklin Parlapiano Turner & Welch LLC now owns 5,254 shares of the computer hardware maker’s stock valued at $638,000 after acquiring an additional 1,660 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC increased its position in shares of NVIDIA by 15.5% in the 3rd quarter. Grey Fox Wealth Advisors LLC now owns 7,082 shares of the computer hardware maker’s stock valued at $860,000 after purchasing an additional 950 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 0.3 %

NVDA opened at $138.63 on Tuesday. The stock 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. 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 12-month low of $45.01 and a 12-month high of $152.89. The firm’s fifty day moving average price is $136.05 and its 200 day moving average price is $124.11.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. As a group, research analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

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

NVIDIA Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 716 shares of the company’s stock in a transaction 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 sale, the director now owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,916,986 shares of company stock worth $227,311,199 in the last three months. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. DA Davidson raised their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Sanford C. Bernstein upped their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Monday, November 18th. Finally, The Goldman Sachs Group upped their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four equities 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA 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.