Washington Trust Advisors Inc. Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Washington Trust Advisors Inc. raised its position in NVIDIA Co. (NASDAQ:NVDA) by 0.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 187,203 shares of the computer hardware maker’s stock after purchasing an additional 395 shares during the period. NVIDIA accounts for approximately 2.0% of Washington Trust Advisors Inc.’s portfolio, making the stock its 16th biggest holding. Washington Trust Advisors Inc.’s holdings in NVIDIA were worth $22,734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Crumly & Associates Inc. raised its holdings in NVIDIA by 162.5% in the 3rd quarter. Crumly & Associates Inc. now owns 10,319 shares of the computer hardware maker’s stock valued at $1,253,000 after acquiring an additional 6,388 shares during the last quarter. Windward Capital Management Co. CA acquired a new position in shares of NVIDIA during the 3rd quarter worth approximately $1,157,000. Shoker Investment Counsel Inc. grew its position in shares of NVIDIA by 1.5% in the third quarter. Shoker Investment Counsel Inc. now owns 29,003 shares of the computer hardware maker’s stock valued at $3,522,000 after purchasing an additional 440 shares in the last quarter. Villere ST Denis J & Co. LLC acquired a new stake in shares of NVIDIA in the third quarter valued at approximately $257,000. Finally, Holistic Planning LLC lifted its position in NVIDIA by 869.6% during the third quarter. Holistic Planning LLC now owns 12,333 shares of the computer hardware maker’s stock worth $1,498,000 after buying an additional 11,061 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,391,886 shares of company stock worth $181,666,050. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Up 3.7 %

Shares of NASDAQ:NVDA opened at $139.67 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The stock has a market cap of $3.42 trillion, a price-to-earnings ratio of 54.97, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The firm’s 50 day moving average price is $139.63 and its 200 day moving average price is $127.36.

NVIDIA (NASDAQ:NVDA) last released 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 business 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%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, equities 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 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 programs are usually a sign that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NVDA. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Piper Sandler upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Morgan Stanley lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Truist Financial increased their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Phillip Securities restated an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.15.

About NVIDIA

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.