MinichMacGregor Wealth Management LLC Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

MinichMacGregor Wealth Management LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,993 shares of the computer hardware maker’s stock after buying an additional 4,455 shares during the quarter. NVIDIA comprises 2.4% of MinichMacGregor Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. MinichMacGregor Wealth Management LLC’s holdings in NVIDIA were worth $11,197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CGC Financial Services LLC purchased a new position in shares of NVIDIA in the second quarter valued at $26,000. Quest Partners LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the 3rd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the 2nd quarter valued at about $31,000. Finally, FPC Investment Advisory Inc. grew its holdings in NVIDIA by 900.0% during the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after buying an additional 261 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. William Blair initiated coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Melius Research raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Rosenblatt Securities restated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Monday, November 18th. HSBC increased their price objective on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Craig Hallum boosted their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,556,986 shares of company stock worth $201,687,727 over the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 1.4 %

NASDAQ NVDA opened at $130.68 on Friday. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The stock has a market capitalization of $3.20 trillion, a PE ratio of 51.43, 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 business’s 50-day moving average is $139.63 and its 200 day moving average is $127.11.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The business’s revenue was up 93.6% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current 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 payout ratio is currently 1.57%.

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

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.