NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Argent Capital Management LLC

Argent Capital Management LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,008.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 738,958 shares of the computer hardware maker’s stock after acquiring an additional 672,308 shares during the period. NVIDIA makes up approximately 2.5% of Argent Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Argent Capital Management LLC’s holdings in NVIDIA were worth $89,739,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. boosted its position in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. CGC Financial Services LLC purchased a new position in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. Finally, Quest Partners LLC purchased a new position in shares of NVIDIA during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $107.44, for a total value of $12,892,800.00. Following the completion of the transaction, the chief executive officer now directly owns 76,135,836 shares of the company’s stock, valued at $8,180,034,219.84. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,916,986 shares of company stock valued at $227,311,199 in the last three months. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research analyst reports. Westpark Capital increased their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. TD Cowen increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Bank of America restated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. William Blair began coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Up 1.2 %

NVIDIA stock opened at $140.26 on Wednesday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The stock has a 50 day moving average of $136.89 and a two-hundred day moving average of $124.75. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.20, a PEG ratio of 2.51 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during 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 firm earned $0.38 EPS. As a group, research analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA declared that its board has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Announces Dividend

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 issued 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 dividend payout ratio is currently 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.