Marks Group Wealth Management Inc Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Marks Group Wealth Management Inc boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,309 shares of the computer hardware maker’s stock after purchasing an additional 2,017 shares during the quarter. Marks Group Wealth Management Inc’s holdings in NVIDIA were worth $2,831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Balentine LLC increased its position in NVIDIA by 136.1% in the third quarter. Balentine LLC now owns 51,550 shares of the computer hardware maker’s stock worth $6,260,000 after purchasing an additional 29,720 shares during the last quarter. Bailard Inc. grew its stake in shares of NVIDIA by 12.4% in 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 in the last quarter. HMS Capital Management LLC increased its holdings in shares of NVIDIA by 1.0% in the 3rd quarter. HMS Capital Management LLC now owns 58,991 shares of the computer hardware maker’s stock worth $7,164,000 after buying an additional 561 shares during the last quarter. Crescent Grove Advisors LLC raised its position in shares of NVIDIA by 0.9% during the 3rd quarter. Crescent Grove Advisors LLC now owns 37,333 shares of the computer hardware maker’s stock valued at $4,534,000 after buying an additional 347 shares in the last quarter. Finally, JFG Wealth Management LLC lifted its holdings in shares of NVIDIA by 51.8% in the 3rd quarter. JFG Wealth Management LLC now owns 11,040 shares of the computer hardware maker’s stock valued at $1,341,000 after acquiring an additional 3,767 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $130.68 on Friday. The firm has a market capitalization of $3.20 trillion, a PE ratio of 51.43, a price-to-earnings-growth 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 business’s 50-day moving average is $139.63 and its two-hundred day moving average is $127.11. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89.

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 firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly 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. Research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA announced that its board has authorized a stock buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on NVDA. Evercore ISI lifted their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Citigroup lifted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Piper Sandler increased their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Wells Fargo & Company lifted 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. Finally, Melius Research increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four investment 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the transaction, the director now owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. This trade represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,556,986 shares of company stock worth $201,687,727. 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.