Wealth Group Ltd. Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Wealth Group Ltd. grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,602 shares of the computer hardware maker’s stock after buying an additional 265 shares during the period. Wealth Group Ltd.’s holdings in NVIDIA were worth $680,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Clarus Wealth Advisors boosted its holdings in shares of NVIDIA by 11.2% in the 3rd quarter. Clarus Wealth Advisors now owns 14,296 shares of the computer hardware maker’s stock valued at $1,826,000 after acquiring an additional 1,443 shares during the last quarter. USA Financial Formulas lifted its position in NVIDIA by 63,602.5% during the third quarter. USA Financial Formulas now owns 25,481 shares of the computer hardware maker’s stock valued at $3,094,000 after purchasing an additional 25,441 shares during the period. Sanibel Captiva Trust Company Inc. boosted its holdings in NVIDIA by 6.9% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 252,911 shares of the computer hardware maker’s stock valued at $30,714,000 after purchasing an additional 16,214 shares during the last quarter. Wedmont Private Capital grew its position in NVIDIA by 11.1% during the 3rd quarter. Wedmont Private Capital now owns 375,802 shares of the computer hardware maker’s stock worth $47,997,000 after purchasing an additional 37,588 shares during the period. Finally, Hexagon Capital Partners LLC raised its stake in shares of NVIDIA by 0.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 58,798 shares of the computer hardware maker’s stock valued at $7,140,000 after buying an additional 326 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $134.70 on Monday. The company’s 50 day moving average price is $139.63 and its two-hundred day moving average price is $127.32. The firm has a market capitalization of $3.30 trillion, a P/E ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 114.83% and a net margin of 55.69%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, equities analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

NVDA has been the subject of several recent research reports. Mizuho lifted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Loop Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. DA Davidson raised their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group lifted their price target on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Susquehanna increased their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. 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’s stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Transactions 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 sale, the director now 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 legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $201,687,727 over the last three months. Corporate insiders own 4.23% of the company’s stock.

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.