Austin Asset Management Co Inc Acquires 620 Shares of NVIDIA Co. (NASDAQ:NVDA)

Austin Asset Management Co Inc lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 509,665 shares of the computer hardware maker’s stock after acquiring an additional 620 shares during the quarter. NVIDIA comprises approximately 12.6% of Austin Asset Management Co Inc’s holdings, making the stock its 3rd largest position. Austin Asset Management Co Inc’s holdings in NVIDIA were worth $61,894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GSG Advisors LLC boosted its stake in NVIDIA by 6.7% during the 3rd quarter. GSG Advisors LLC now owns 41,013 shares of the computer hardware maker’s stock valued at $4,799,000 after purchasing an additional 2,593 shares during the period. First Personal Financial Services acquired a new position in shares of NVIDIA in the third quarter valued at $77,000. Objective Capital Management LLC bought a new position in NVIDIA in the third quarter worth $3,508,000. Carmel Capital Partners LLC boosted its position in shares of NVIDIA by 3.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 9,382 shares of the computer hardware maker’s stock valued at $1,139,000 after acquiring an additional 273 shares in the last quarter. Finally, Fairway Wealth LLC boosted its holdings in NVIDIA by 40.1% during the third quarter. Fairway Wealth LLC now owns 2,802 shares of the computer hardware maker’s stock valued at $340,000 after purchasing an additional 802 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 0.4 %

NASDAQ NVDA opened at $140.22 on Thursday. NVIDIA Co. has a 52 week low of $47.32 and a 52 week 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 stock’s 50 day moving average price is $139.84 and its two-hundred day moving average price is $127.62. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.18, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA announced that its board has initiated 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,391,886 shares of company stock valued at $181,666,050 in the last quarter. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Craig Hallum upped their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Morgan Stanley lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Robert W. Baird increased their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Truist Financial increased their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA 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.