Avitas Wealth Management LLC Acquires 4,061 Shares of NVIDIA Co. (NASDAQ:NVDA)

Avitas Wealth Management LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 331,921 shares of the computer hardware maker’s stock after acquiring an additional 4,061 shares during the quarter. NVIDIA accounts for about 5.7% of Avitas Wealth Management LLC’s holdings, making the stock its 2nd biggest position. Avitas Wealth Management LLC’s holdings in NVIDIA were worth $40,308,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 1,900.0% in the second 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 in the second quarter valued at $26,000. Quest Partners LLC purchased a new position in shares of NVIDIA in the second quarter valued at $27,000. Finally, Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the 3rd quarter worth about $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NVIDIA stock opened at $135.07 on Wednesday. NVIDIA Co. has a 52 week low of $45.83 and a 52 week high of $152.89. 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 cap of $3.31 trillion, a P/E ratio of 53.18, a price-to-earnings-growth ratio of 2.58 and a beta of 1.63. The stock has a 50 day moving average of $138.51 and a 200-day moving average of $126.04.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

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

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction 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 completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction 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 owns 19,942 shares of the company’s stock, 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. Insiders sold a total of 1,556,986 shares of company stock valued at $188,359,199 over the last three months. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on NVDA. Truist Financial lifted their price objective on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. DA Davidson boosted their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Evercore ISI boosted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Melius Research raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.15.

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.