Lansing Street Advisors Has $331,000 Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Lansing Street Advisors increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 52.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,723 shares of the computer hardware maker’s stock after acquiring an additional 938 shares during the period. Lansing Street Advisors’ holdings in NVIDIA were worth $331,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. CGC Financial Services LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth approximately $26,000. Quest Partners LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA in the third quarter valued at approximately $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of NVIDIA during the second quarter valued at approximately $31,000. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. DA Davidson raised their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Wells Fargo & Company raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Loop Capital restated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, Piper Sandler upped their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Down 1.7 %

Shares of NVDA stock opened at $132.00 on Tuesday. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The company has a market cap of $3.23 trillion, a price-to-earnings ratio of 51.95, a PEG ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a 50 day simple moving average of $139.84 and a 200-day simple moving average of $126.92.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate 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 net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. On average, equities research analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,628,156 shares of company stock worth $197,995,077. 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.