Avid Wealth Partners LLC Has $771,000 Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Avid Wealth Partners LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 12.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,350 shares of the computer hardware maker’s stock after acquiring an additional 711 shares during the period. NVIDIA comprises 0.5% of Avid Wealth Partners LLC’s holdings, making the stock its 25th biggest holding. Avid Wealth Partners LLC’s holdings in NVIDIA were worth $771,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hoertkorn Richard Charles lifted its stake in shares of NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after buying an additional 70 shares in the last quarter. Smart Portfolios LLC raised its position in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares during the last quarter. Total Wealth Planning LLC raised its holdings in shares of NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after purchasing an additional 78 shares during the last quarter. Boyd Watterson Asset Management LLC OH boosted its holdings in NVIDIA by 0.3% during the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares during the last quarter. Finally, Pavion Blue Capital LLC boosted its stake in shares of NVIDIA by 0.4% in the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock worth $2,629,000 after buying an additional 80 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. 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. 4.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Piper Sandler lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Evercore ISI increased their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company lifted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Sanford C. Bernstein increased their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

Shares of NVDA stock opened at $140.22 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average price is $139.84 and its 200-day moving average price is $127.62. The stock has a market cap of $3.43 trillion, a PE ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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 net margin of 55.69% and a return on equity of 114.83%. 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 firm posted $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. On average, equities analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Announces Dividend

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

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.