Farther Finance Advisors LLC Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Farther Finance Advisors LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 12.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 851,185 shares of the computer hardware maker’s stock after buying an additional 92,697 shares during the period. NVIDIA makes up approximately 3.9% of Farther Finance Advisors LLC’s holdings, making the stock its 3rd biggest position. Farther Finance Advisors LLC’s holdings in NVIDIA were worth $103,368,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Gulf International Bank UK Ltd lifted its position in NVIDIA by 875.8% during the 2nd quarter. Gulf International Bank UK Ltd now owns 2,141,420 shares of the computer hardware maker’s stock worth $264,551,000 after acquiring an additional 1,921,964 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. grew its position in shares of NVIDIA by 817.9% in the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 23,222 shares of the computer hardware maker’s stock valued at $2,977,000 after purchasing an additional 20,692 shares during the last quarter. Boit C F David increased its stake in shares of NVIDIA by 900.0% in the second quarter. Boit C F David now owns 6,000 shares of the computer hardware maker’s stock worth $741,000 after purchasing an additional 5,400 shares during the period. Triangle Securities Wealth Management lifted its position in shares of NVIDIA by 846.9% during the 2nd quarter. Triangle Securities Wealth Management now owns 18,560 shares of the computer hardware maker’s stock worth $2,293,000 after purchasing an additional 16,600 shares during the last quarter. Finally, First Affirmative Financial Network boosted its stake in NVIDIA by 940.4% during the 2nd quarter. First Affirmative Financial Network now owns 44,967 shares of the computer hardware maker’s stock valued at $5,555,000 after purchasing an additional 40,645 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent analyst reports. DA Davidson lifted their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Monday, November 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Phillip Securities restated an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. 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 company’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Trading Down 2.2 %

Shares of NVDA opened at $134.25 on Friday. 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 company has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63. The stock has a fifty day moving average price of $139.76 and a two-hundred day moving average price of $126.69. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during 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%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. Analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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 dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

NVIDIA declared that its board has initiated a share repurchase plan 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,628,156 shares of company stock worth $197,995,077. Corporate insiders own 4.23% of the company’s stock.

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.