Addison Advisors LLC Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Addison Advisors LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,368 shares of the computer hardware maker’s stock after purchasing an additional 832 shares during the quarter. Addison Advisors LLC’s holdings in NVIDIA were worth $2,231,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CGC Financial Services LLC bought a new position in NVIDIA during the second quarter valued at $26,000. Quest Partners LLC purchased a new position in shares of NVIDIA during the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the 3rd quarter worth $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA in the 2nd quarter worth about $31,000. Finally, FPC Investment Advisory Inc. raised its stake in NVIDIA by 900.0% in the 2nd 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 during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of the firm’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 sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction on 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 owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,351,886 shares of company stock valued at $176,825,650. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Melius Research boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. Needham & Company LLC raised their price target on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Sanford C. Bernstein raised their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, DA Davidson lifted their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Four research 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 company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Trading Down 0.2 %

Shares of NVDA stock opened at $139.93 on Friday. The business has a 50-day moving average of $139.99 and a 200 day moving average of $127.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The stock has a market capitalization of $3.43 trillion, a PE ratio of 55.07, a P/E/G ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, sell-side 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. Shareholders of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

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.