Americana Partners LLC Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Americana Partners LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 21.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,311 shares of the computer hardware maker’s stock after purchasing an additional 37,249 shares during the quarter. NVIDIA makes up about 1.7% of Americana Partners LLC’s investment portfolio, making the stock its 12th largest position. Americana Partners LLC’s holdings in NVIDIA were worth $25,297,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. raised its stake in shares of NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after acquiring an additional 107,169 shares in the last quarter. Truepoint Inc. raised its position in NVIDIA by 914.1% in 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 period. Westwood Holdings Group Inc. lifted its stake in NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after purchasing an additional 208,362 shares during the last quarter. Narwhal Capital Management boosted its position in NVIDIA by 5.1% during the third 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 period. Finally, Legal & General Group Plc grew its stake in shares of 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 valued at $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent research reports. Susquehanna boosted their target price on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Westpark Capital increased their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Oppenheimer restated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Trading Down 2.2 %

NVIDIA stock opened at $134.25 on Friday. NVIDIA Co. has a 12 month low of $47.32 and a 12 month 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 business’s fifty day simple moving average is $139.76 and its two-hundred day simple moving average is $126.69. The company has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63.

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, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, equities analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,628,156 shares of company stock worth $197,995,077 in the last three months. Insiders own 4.23% of the company’s stock.

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.