NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 128.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 132,110 shares of the computer hardware maker’s stock after acquiring an additional 74,225 shares during the quarter. NVIDIA makes up approximately 2.7% of Legacy Capital Wealth Partners LLC’s investment portfolio, making the stock its 6th largest position. Legacy Capital Wealth Partners LLC’s holdings in NVIDIA were worth $16,043,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Lantz Financial LLC lifted its position in NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after acquiring an additional 36,774 shares during the last quarter. James Hambro & Partners increased its stake in shares of NVIDIA by 657.7% during the second quarter. James Hambro & Partners now owns 6,880 shares of the computer hardware maker’s stock worth $849,000 after purchasing an additional 5,972 shares during the period. Border to Coast Pensions Partnership Ltd lifted its holdings in NVIDIA by 723.0% during the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 2,331,118 shares of the computer hardware maker’s stock worth $288,077,000 after purchasing an additional 2,047,881 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in NVIDIA by 714.4% in the 2nd quarter. SJS Investment Consulting Inc. now owns 49,980 shares of the computer hardware maker’s stock valued at $6,175,000 after purchasing an additional 43,843 shares during the period. Finally, Consolidated Capital Management LLC boosted its stake in NVIDIA by 972.3% in the 2nd quarter. Consolidated Capital Management LLC now owns 94,298 shares of the computer hardware maker’s stock valued at $11,650,000 after purchasing an additional 85,504 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were 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 directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents 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 the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % 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 worth $181,666,050 over the last 90 days. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.4 %

Shares of NVIDIA 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 has a fifty day simple moving average of $139.84 and a 200-day simple moving average of $127.62. The stock 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 1.64. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the business earned $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding 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 usually a sign that the company’s management believes its stock is undervalued.

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have issued reports on NVDA shares. Stifel Nicolaus increased their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Barclays increased their price target on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Piper Sandler lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Evercore ISI increased their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Wedbush raised their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. 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. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

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.