Angeles Wealth Management LLC Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Angeles Wealth Management LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,992 shares of the computer hardware maker’s stock after purchasing an additional 2,695 shares during the quarter. NVIDIA accounts for 0.9% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. Angeles Wealth Management LLC’s holdings in NVIDIA were worth $10,686,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Lantz Financial LLC increased its position in NVIDIA by 833.1% in the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after buying an additional 36,774 shares during the last quarter. CX Institutional increased its stake in shares of NVIDIA by 936.9% in the second quarter. CX Institutional now owns 150,085 shares of the computer hardware maker’s stock worth $18,542,000 after purchasing an additional 135,610 shares in the last quarter. Cedar Mountain Advisors LLC raised its stake in shares of NVIDIA by 865.8% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 4,182 shares of the computer hardware maker’s stock valued at $517,000 after purchasing an additional 3,749 shares during the period. Bourgeon Capital Management LLC grew its stake in NVIDIA by 1,018.4% during the second quarter. Bourgeon Capital Management LLC now owns 36,795 shares of the computer hardware maker’s stock valued at $4,546,000 after acquiring an additional 33,505 shares in the last quarter. Finally, WBH Advisory Inc. increased its holdings in NVIDIA by 887.1% during the 2nd quarter. WBH Advisory Inc. now owns 9,585 shares of the computer hardware maker’s stock worth $1,184,000 after acquiring an additional 8,614 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Truist Financial lifted their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. William Blair began coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Piper Sandler upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Bank of America reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Craig Hallum upped their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $132.00 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The firm’s 50 day simple moving average is $139.84 and its two-hundred day simple moving average is $126.92. The company has a market capitalization of $3.23 trillion, a P/E ratio of 51.95, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. Research analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend 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 currently 1.57%.

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

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’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 transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 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.