OneAscent Wealth Management LLC Raises Position in NVIDIA Co. (NASDAQ:NVDA)

OneAscent Wealth Management LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,190 shares of the computer hardware maker’s stock after purchasing an additional 418 shares during the period. NVIDIA accounts for 0.4% of OneAscent Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position. OneAscent Wealth Management LLC’s holdings in NVIDIA were worth $995,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. Lantz Financial LLC increased 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 purchasing an additional 36,774 shares during the last quarter. Ironwood Wealth Management LLC. grew its stake in shares of NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after buying an additional 5,695 shares during the period. Central Bank & Trust Co. increased its holdings in shares of NVIDIA by 832.1% during the 2nd quarter. Central Bank & Trust Co. now owns 687,535 shares of the computer hardware maker’s stock worth $84,938,000 after buying an additional 613,774 shares during the last quarter. Johnson & White Wealth Management LLC raised its position in shares of NVIDIA by 780.7% in the 2nd quarter. Johnson & White Wealth Management LLC now owns 51,263 shares of the computer hardware maker’s stock worth $6,333,000 after buying an additional 45,442 shares during the period. Finally, Penn Davis Mcfarland Inc. boosted its holdings in NVIDIA by 1,114.7% in the second quarter. Penn Davis Mcfarland Inc. now owns 22,690 shares of the computer hardware maker’s stock valued at $2,803,000 after acquiring an additional 20,822 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Redburn Atlantic assumed coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. Robert W. Baird raised their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. UBS Group raised their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA stock opened at $144.47 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $139.57 and a two-hundred day moving average of $128.25. The company has a market cap of $3.54 trillion, a P/E ratio of 56.86, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 52 week low of $47.51 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during 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 company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. As a group, analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was 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 directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,226,886 shares of company stock valued at $161,499,400 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

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.