Arrow Financial Corp Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

Arrow Financial Corp boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,943 shares of the computer hardware maker’s stock after acquiring an additional 1,525 shares during the period. NVIDIA accounts for about 2.1% of Arrow Financial Corp’s holdings, making the stock its 13th biggest position. Arrow Financial Corp’s holdings in NVIDIA were worth $22,459,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NVDA. CGC Financial Services LLC purchased a new stake in NVIDIA during the second quarter valued at about $26,000. Quest Partners LLC bought a new position in shares of NVIDIA in the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA in the third quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the 2nd quarter valued at about $31,000. Finally, FPC Investment Advisory Inc. raised its holdings in shares of NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after acquiring an additional 261 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NVDA shares. Sanford C. Bernstein upped their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Barclays lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Robert W. Baird boosted their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Phillip Securities reissued an “accumulate” rating and set a $160.00 price target (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Four investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. This represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,391,886 shares of company stock valued at $181,666,050. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $140.22 on Thursday. The firm has a market capitalization of $3.43 trillion, a PE ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.64. The stock’s 50 day moving average is $139.84 and its two-hundred day moving average is $127.62. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

NVIDIA announced that its board has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign 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.