Ascent Wealth Partners LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Ascent Wealth Partners LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,757 shares of the computer hardware maker’s stock after acquiring an additional 2,365 shares during the period. Ascent Wealth Partners LLC’s holdings in NVIDIA were worth $7,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Castle Wealth Management LLC boosted its holdings in NVIDIA by 2.1% in the 3rd quarter. Castle Wealth Management LLC now owns 12,884 shares of the computer hardware maker’s stock valued at $1,565,000 after purchasing an additional 268 shares during the period. Droms Strauss Advisors Inc. MO ADV grew its position in NVIDIA by 2.1% during the third quarter. Droms Strauss Advisors Inc. MO ADV now owns 6,366 shares of the computer hardware maker’s stock worth $773,000 after buying an additional 130 shares in the last quarter. Olympiad Research LP bought a new position in NVIDIA in the 3rd quarter worth about $328,000. Principal Financial Group Inc. raised its holdings in shares of NVIDIA by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker’s stock valued at $4,326,576,000 after acquiring an additional 1,285,897 shares in the last quarter. Finally, Montecito Bank & Trust boosted its position in shares of NVIDIA by 0.6% during the 3rd quarter. Montecito Bank & Trust now owns 221,735 shares of the computer hardware maker’s stock valued at $26,927,000 after acquiring an additional 1,231 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,556,986 shares of company stock worth $201,687,727. 4.23% of the stock is owned by insiders.

NVIDIA Price Performance

NVDA opened at $134.70 on Friday. 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 company has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The stock has a fifty day simple moving average of $139.63 and a two-hundred day simple moving average of $127.32. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

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

NVIDIA announced that its board has approved a share buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on NVDA shares. Wells Fargo & Company upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Westpark Capital increased their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Phillip Securities reissued an “accumulate” rating and issued a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, Robert W. Baird lifted their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.