Beacon Financial Advisory LLC Has $3.84 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Beacon Financial Advisory LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,580 shares of the computer hardware maker’s stock after selling 1,559 shares during the period. NVIDIA accounts for approximately 1.3% of Beacon Financial Advisory LLC’s investment portfolio, making the stock its 13th biggest position. Beacon Financial Advisory LLC’s holdings in NVIDIA were worth $3,835,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Marks Group Wealth Management Inc lifted its position in NVIDIA by 9.5% during the third quarter. Marks Group Wealth Management Inc now owns 23,309 shares of the computer hardware maker’s stock worth $2,831,000 after acquiring an additional 2,017 shares during the last quarter. Balentine LLC grew its holdings in NVIDIA by 136.1% in the 3rd quarter. Balentine LLC now owns 51,550 shares of the computer hardware maker’s stock valued at $6,260,000 after buying an additional 29,720 shares in the last quarter. Bailard Inc. increased its position in NVIDIA by 12.4% during the 3rd quarter. Bailard Inc. now owns 792,861 shares of the computer hardware maker’s stock worth $96,285,000 after buying an additional 87,451 shares during the period. HMS Capital Management LLC boosted its position in shares of NVIDIA by 1.0% in the third quarter. HMS Capital Management LLC now owns 58,991 shares of the computer hardware maker’s stock valued at $7,164,000 after acquiring an additional 561 shares during the period. Finally, Crescent Grove Advisors LLC increased its position in NVIDIA by 0.9% during the third quarter. Crescent Grove Advisors LLC now owns 37,333 shares of the computer hardware maker’s stock worth $4,534,000 after acquiring an additional 347 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company increased their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Stifel Nicolaus lifted their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Morgan Stanley increased their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, DA Davidson boosted their price target on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

NASDAQ NVDA opened at $130.68 on Friday. The company has a market capitalization of $3.20 trillion, a price-to-earnings ratio of 51.43, a PEG ratio of 2.43 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The stock has a fifty day simple moving average of $139.63 and a 200 day simple moving average of $127.11.

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

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan 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 plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,556,986 shares of company stock valued at $201,687,727. 4.23% of the stock is currently owned by insiders.

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.