Valmark Advisers Inc. Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

Valmark Advisers Inc. raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,320 shares of the computer hardware maker’s stock after buying an additional 2,784 shares during the period. Valmark Advisers Inc.’s holdings in NVIDIA were worth $15,947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hoertkorn Richard Charles raised its position in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after buying an additional 70 shares during the last quarter. Total Wealth Planning LLC increased its stake in shares of NVIDIA by 3.6% during the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after acquiring an additional 78 shares during the period. Boyd Watterson Asset Management LLC OH raised its holdings in NVIDIA by 0.3% during the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares in the last quarter. Pavion Blue Capital LLC boosted its holdings in NVIDIA by 0.4% in the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after purchasing an additional 80 shares in the last quarter. Finally, L. Roy Papp & Associates LLP increased its position in NVIDIA by 2.5% during the 3rd quarter. L. Roy Papp & Associates LLP now owns 3,471 shares of the computer hardware maker’s stock worth $422,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $135.07 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.31 trillion, a P/E ratio of 53.18, a PEG ratio of 2.58 and a beta of 1.63. The firm has a fifty day moving average of $138.51 and a 200-day moving average of $126.04. NVIDIA Co. has a 52-week low of $45.83 and a 52-week high of $152.89.

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

NVIDIA announced 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 shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated 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. This represents a 14.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,556,986 shares of company stock valued at $188,359,199 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NVDA. Raymond James raised their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Evercore ISI raised their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company upped 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. Susquehanna raised their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, DA Davidson upped their target price on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Company 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.