NVIDIA Co. (NASDAQ:NVDA) Holdings Lifted by Drive Wealth Management LLC

Drive Wealth Management LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,667 shares of the computer hardware maker’s stock after acquiring an additional 1,681 shares during the period. NVIDIA makes up 2.4% of Drive Wealth Management LLC’s portfolio, making the stock its 8th biggest position. Drive Wealth Management LLC’s holdings in NVIDIA were worth $9,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Quest Partners LLC acquired a new stake in shares of NVIDIA in the second quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA in the 2nd quarter valued at approximately $31,000. West Financial Advisors LLC bought a new position in NVIDIA during the 3rd quarter valued at $36,000. Finally, DHJJ Financial Advisors Ltd. increased its position in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the 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 transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,226,886 shares of company stock valued at $161,499,400. 4.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wedbush upped their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. HSBC increased their price objective on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Bank of America restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. TD Cowen increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Benchmark lifted their target price on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA stock opened at $144.47 on Friday. The company has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 56.86, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 1-year low of $47.51 and a 1-year high of $152.89. 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 stock’s fifty day simple moving average is $139.51 and its 200-day simple moving average is $128.16.

NVIDIA (NASDAQ:NVDA) last issued its 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 company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. On average, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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