Philip James Wealth Mangement LLC Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Philip James Wealth Mangement LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,849 shares of the computer hardware maker’s stock after acquiring an additional 415 shares during the period. Philip James Wealth Mangement LLC’s holdings in NVIDIA were worth $2,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. lifted its stake in shares of NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after buying an additional 107,169 shares in the last quarter. Truepoint Inc. lifted its position in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after acquiring an additional 208,362 shares during the period. Blue Square Asset Management LLC grew its position in shares of NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after purchasing an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management raised its stake in shares of NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after purchasing an additional 26,373 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NVDA shares. Oppenheimer restated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Susquehanna raised their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, HSBC increased their price target on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated 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. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock worth $201,687,727 over the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $134.70 on Monday. The company has a market cap of $3.30 trillion, a P/E ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The business’s 50-day simple moving average is $139.63 and its 200 day simple moving average is $127.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for 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%. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. On average, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

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