NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Boosted by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,090 shares of the computer hardware maker’s stock after acquiring an additional 3,650 shares during the period. NVIDIA comprises about 0.6% of Mainstay Capital Management LLC ADV’s holdings, making the stock its 10th biggest position. Mainstay Capital Management LLC ADV’s holdings in NVIDIA were worth $3,411,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. lifted its holdings in NVIDIA by 897.5% in 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 buying an additional 107,169 shares in the last quarter. Truepoint Inc. boosted its holdings in NVIDIA by 914.1% during 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. lifted its position in shares of NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after acquiring an additional 208,362 shares in the last quarter. Narwhal Capital Management increased its stake in shares of NVIDIA by 5.1% during 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 during the last quarter. Finally, Legal & General Group Plc grew its stake 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 buying an additional 191,469,114 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other news, 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 value of $12,639,600.00. Following the transaction, the chief executive officer now owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,916,986 shares of company stock valued at $227,311,199. 4.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NVDA has been the topic of several research reports. Westpark Capital boosted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Phillip Securities reissued an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Finally, DA Davidson increased their price target on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $140.26 on Wednesday. The company has a market cap of $3.43 trillion, a PE ratio of 55.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.63. 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 company has a 50 day moving average of $136.89 and a 200-day moving average of $124.75. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 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 during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the company posted $0.38 earnings per share. The business’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a stock 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication 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. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. 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 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.