TrinityPoint Wealth LLC Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

TrinityPoint Wealth LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,451 shares of the computer hardware maker’s stock after purchasing an additional 710 shares during the quarter. NVIDIA accounts for about 2.4% of TrinityPoint Wealth LLC’s holdings, making the stock its 8th biggest holding. TrinityPoint Wealth LLC’s holdings in NVIDIA were worth $16,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC purchased a new position in shares of NVIDIA during the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA during the second quarter worth approximately $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA in the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake 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 valued at $41,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup boosted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Mizuho lifted their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $144.47 on Friday. NVIDIA Co. has a 1 year low of $47.51 and a 1 year high of $152.89. The firm’s 50-day moving average is $139.51 and its 200 day moving average is $128.16. The stock has a market cap of $3.54 trillion, a price-to-earnings ratio of 56.86, a PEG ratio of 2.43 and a beta of 1.63. 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 (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm 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%. The business’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Sell-side analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is 1.57%.

Insiders Place Their Bets

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the sale, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,226,886 shares of company stock valued at $161,499,400. 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.