Wealth Quarterback LLC Purchases 778 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wealth Quarterback LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,236 shares of the computer hardware maker’s stock after buying an additional 778 shares during the period. NVIDIA comprises approximately 1.2% of Wealth Quarterback LLC’s holdings, making the stock its 18th largest holding. Wealth Quarterback LLC’s holdings in NVIDIA were worth $2,336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NVDA. Thomas Story & Son LLC boosted its stake in shares of NVIDIA by 5.5% during the third quarter. Thomas Story & Son LLC now owns 4,800 shares of the computer hardware maker’s stock valued at $583,000 after purchasing an additional 250 shares in the last quarter. Nordwand Advisors LLC lifted its holdings in NVIDIA by 14.3% during the third quarter. Nordwand Advisors LLC now owns 1,600 shares of the computer hardware maker’s stock worth $194,000 after buying an additional 200 shares during the period. Assetmark Inc. boosted its position in NVIDIA by 9.5% during the 3rd quarter. Assetmark Inc. now owns 4,895,147 shares of the computer hardware maker’s stock valued at $594,467,000 after acquiring an additional 424,680 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of NVIDIA by 8.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 75,753 shares of the computer hardware maker’s stock valued at $9,199,000 after acquiring an additional 5,747 shares during the period. Finally, Rockbridge Investment Management LCC raised its holdings in NVIDIA by 5.8% in the third quarter. Rockbridge Investment Management LCC now owns 5,207 shares of the computer hardware maker’s stock worth $632,000 after purchasing an additional 284 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research analyst reports. Wedbush boosted their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Raymond James raised their price objective on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Finally, Craig Hallum raised their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Up 0.4 %

NASDAQ NVDA opened at $140.22 on Wednesday. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.18, 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 company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a 50 day simple moving average of $139.66 and a 200-day simple moving average of $127.49.

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. Equities research analysts anticipate that NVIDIA Co. will post 2.78 EPS 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. The ex-dividend date of this dividend 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 presently 1.57%.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the sale, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,391,886 shares of company stock worth $181,666,050 in the last three months. 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.