Cohen Capital Management Inc. Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

Cohen Capital Management Inc. raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 94.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,370 shares of the computer hardware maker’s stock after purchasing an additional 1,640 shares during the period. Cohen Capital Management Inc.’s holdings in NVIDIA were worth $409,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. DHJJ Financial Advisors Ltd. boosted its holdings in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the period. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the third quarter valued at about $27,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $26,000. Quest Partners LLC acquired a new stake in shares of NVIDIA during the second quarter worth approximately $27,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the second quarter valued at $31,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NVDA shares. Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Wedbush raised their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Craig Hallum boosted their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Westpark Capital increased their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, DA Davidson raised their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Four investment 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. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity at NVIDIA

In related 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 transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,628,156 shares of company stock worth $197,995,077 in the last ninety days. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Down 1.2 %

Shares of NASDAQ:NVDA opened at $130.39 on Wednesday. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The firm has a fifty day moving average price of $139.79 and a 200 day moving average price of $127.07. 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 stock has a market capitalization of $3.19 trillion, a PE ratio of 51.33, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the company earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

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

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

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.