Austin Wealth Management LLC Has $1.67 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Austin Wealth Management LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,614 shares of the computer hardware maker’s stock after buying an additional 489 shares during the quarter. Austin Wealth Management LLC’s holdings in NVIDIA were worth $1,672,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NVDA. HM Payson & Co. boosted its position in NVIDIA by 1.9% during the 3rd quarter. HM Payson & Co. now owns 1,520,533 shares of the computer hardware maker’s stock worth $184,654,000 after acquiring an additional 28,765 shares during the period. Meitav Investment House Ltd. boosted its holdings in shares of NVIDIA by 18.9% during the third quarter. Meitav Investment House Ltd. now owns 1,066,969 shares of the computer hardware maker’s stock worth $129,461,000 after purchasing an additional 169,935 shares during the period. Catalyst Financial Partners LLC grew its position in NVIDIA by 4.8% during the third quarter. Catalyst Financial Partners LLC now owns 111,494 shares of the computer hardware maker’s stock valued at $13,540,000 after purchasing an additional 5,107 shares in the last quarter. Tevis Investment Management increased its stake in NVIDIA by 34.2% in the 3rd quarter. Tevis Investment Management now owns 19,103 shares of the computer hardware maker’s stock valued at $2,320,000 after buying an additional 4,873 shares during the period. Finally, Goldstone Financial Group LLC purchased a new stake in NVIDIA in the 3rd quarter worth approximately $2,935,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’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 value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,556,986 shares of company stock valued at $188,359,199. 4.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVDA. Mizuho upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Needham & Company LLC lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, TD Cowen increased their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Performance

NVDA opened at $137.34 on Friday. The stock’s 50 day simple moving average is $139.28 and its 200-day simple moving average is $126.33. 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 $3.36 trillion, a PE ratio of 54.07, a P/E/G ratio of 2.58 and a beta of 1.63. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89.

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

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

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

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.