Fonville Wealth Management LLC Has $1.22 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Fonville Wealth Management LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 48.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 10,021 shares of the computer hardware maker’s stock after purchasing an additional 3,287 shares during the period. Fonville Wealth Management LLC’s holdings in NVIDIA were worth $1,217,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. DHJJ Financial Advisors Ltd. grew its holdings 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 period. CGC Financial Services LLC acquired a new stake in NVIDIA in the 2nd quarter valued at $26,000. Quest Partners LLC bought a new stake in NVIDIA during the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the third quarter worth $27,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of NVIDIA in the second quarter valued at $31,000. 65.27% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the 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 transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,628,156 shares of company stock worth $197,995,077. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NVDA shares. Truist Financial upped their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. TD Cowen increased their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Melius Research lifted their target price on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Morgan Stanley increased their price target on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus lifted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA 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 stock 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. 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 stock’s 50-day simple moving average is $139.76 and its 200 day simple moving average is $126.69.

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

NVIDIA announced that its board has initiated a stock 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is 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 issued a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 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.