NVIDIA Co. (NASDAQ:NVDA) Stock Position Raised by Focus Financial Network Inc.

Focus Financial Network Inc. raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,872,850 shares of the computer hardware maker’s stock after buying an additional 60,790 shares during the period. NVIDIA comprises approximately 9.3% of Focus Financial Network Inc.’s holdings, making the stock its largest position. Focus Financial Network Inc.’s holdings in NVIDIA were worth $227,458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. DHJJ Financial Advisors Ltd. boosted its position 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 worth $25,000 after purchasing an additional 190 shares during the last quarter. CGC Financial Services LLC bought a new position in shares of NVIDIA in the 2nd quarter worth approximately $26,000. Quest Partners LLC purchased a new position in shares of NVIDIA in the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the third quarter valued at approximately $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in NVIDIA during the second quarter valued at approximately $31,000. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. The Goldman Sachs Group upped their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Needham & Company LLC raised their price objective on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Finally, Citigroup increased their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four 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’s stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated 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 directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,628,156 shares of company stock valued at $197,995,077 in the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Stock Down 2.2 %

Shares of NVIDIA stock opened at $134.25 on Friday. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The firm’s 50 day moving average price is $139.76 and its 200-day moving average price is $126.60. 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 company has a market cap of $3.29 trillion, a P/E ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its board has approved a stock repurchase plan 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA 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.