Spinnaker Investment Group LLC Has $3.07 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Spinnaker Investment Group LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,274 shares of the computer hardware maker’s stock after buying an additional 661 shares during the period. NVIDIA makes up about 0.8% of Spinnaker Investment Group LLC’s investment portfolio, making the stock its 15th largest position. Spinnaker Investment Group LLC’s holdings in NVIDIA were worth $3,069,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Accredited Investors Inc. raised its position in shares of NVIDIA by 4.4% during the third quarter. Accredited Investors Inc. now owns 71,840 shares of the computer hardware maker’s stock valued at $8,724,000 after buying an additional 3,005 shares during the last quarter. Veery Capital LLC raised its holdings in NVIDIA by 1.8% in the 3rd quarter. Veery Capital LLC now owns 7,549 shares of the computer hardware maker’s stock valued at $917,000 after acquiring an additional 130 shares in the last quarter. Schneider Downs Wealth Management Advisors LP lifted its position in shares of NVIDIA by 4.0% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 7,709 shares of the computer hardware maker’s stock worth $936,000 after acquiring an additional 300 shares during the period. Turtle Creek Wealth Advisors LLC grew its holdings in shares of NVIDIA by 9.2% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 72,085 shares of the computer hardware maker’s stock worth $8,754,000 after purchasing an additional 6,061 shares in the last quarter. Finally, Cutler Investment Counsel LLC increased its position in shares of NVIDIA by 19.9% during the third quarter. Cutler Investment Counsel LLC now owns 5,235 shares of the computer hardware maker’s stock valued at $636,000 after purchasing an additional 869 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. DA Davidson lifted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Wells Fargo & Company upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. The Goldman Sachs Group raised their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Evercore ISI upped their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Stifel Nicolaus boosted their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Four 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

Shares of NVDA opened at $138.31 on Friday. The stock has a market cap of $3.39 trillion, a P/E ratio of 54.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The stock’s 50-day moving average price is $139.51 and its two-hundred day moving average price is $128.16. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. On average, equities analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,226,886 shares of company stock worth $161,499,400 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

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.