Baxter Bros Inc. Acquires 301 Shares of NVIDIA Co. (NASDAQ:NVDA)

Baxter Bros Inc. increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,516 shares of the computer hardware maker’s stock after acquiring an additional 301 shares during the quarter. Baxter Bros Inc.’s holdings in NVIDIA were worth $670,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Indie Asset Partners LLC raised its position in shares of NVIDIA by 44.1% during the third quarter. Indie Asset Partners LLC now owns 17,332 shares of the computer hardware maker’s stock worth $2,105,000 after purchasing an additional 5,306 shares during the period. Prossimo Advisors LLC raised its holdings in NVIDIA by 14.6% during the third quarter. Prossimo Advisors LLC now owns 38,596 shares of the computer hardware maker’s stock worth $4,687,000 after buying an additional 4,916 shares during the last quarter. New Covenant Trust Company N.A. boosted its stake in NVIDIA by 23.7% during the 3rd quarter. New Covenant Trust Company N.A. now owns 20,836 shares of the computer hardware maker’s stock valued at $2,529,000 after purchasing an additional 3,989 shares during the last quarter. Northern Financial Advisors Inc lifted its stake in NVIDIA by 0.5% during the 3rd quarter. Northern Financial Advisors Inc now owns 18,409 shares of the computer hardware maker’s stock valued at $2,236,000 after acquiring an additional 86 shares in the last quarter. Finally, Private Wealth Partners LLC boosted its holdings in NVIDIA by 15.2% during the 3rd quarter. Private Wealth Partners LLC now owns 771,740 shares of the computer hardware maker’s stock worth $93,720,000 after acquiring an additional 102,079 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $132.00 on Tuesday. 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 firm has a market cap 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. The firm has a 50-day moving average of $139.84 and a 200-day moving average of $126.92. NVIDIA Co. has a 1-year low of $47.32 and a 1-year 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

NVIDIA declared that its Board of Directors has authorized a stock buyback program 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVDA. Sanford C. Bernstein raised their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Mizuho lifted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Evercore ISI lifted their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, 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. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,628,156 shares of company stock valued at $197,995,077 in the last 90 days. Corporate 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.