NVIDIA Co. (NASDAQ:NVDA) Stake Raised by Deltec Asset Management LLC

Deltec Asset Management LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,540 shares of the computer hardware maker’s stock after purchasing an additional 2,040 shares during the quarter. NVIDIA accounts for 4.0% of Deltec Asset Management LLC’s investment portfolio, making the stock its 7th largest position. Deltec Asset Management LLC’s holdings in NVIDIA were worth $20,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. lifted its holdings in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. raised its position in shares of NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in 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 buying an additional 208,362 shares in the last quarter. Narwhal Capital Management grew its holdings in NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after buying an additional 26,373 shares during the last quarter. Finally, Legal & General Group Plc increased its position in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 2.7 %

NASDAQ:NVDA opened at $135.07 on Wednesday. NVIDIA Co. has a one year low of $45.83 and a one year high of $152.89. The business’s 50-day simple moving average is $138.51 and its 200 day simple moving average is $126.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.18, a price-to-earnings-growth ratio of 2.58 and a beta of 1.63.

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, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. As a group, sell-side analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share buyback program 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Announces Dividend

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

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,556,986 shares of company stock worth $188,359,199. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. UBS Group upped their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Raymond James lifted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Wedbush raised their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, Redburn Atlantic assumed coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target on the stock. Four investment 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.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus 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.