Grandfield & Dodd LLC Purchases 392 Shares of NVIDIA Co. (NASDAQ:NVDA)

Grandfield & Dodd LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,065 shares of the computer hardware maker’s stock after purchasing an additional 392 shares during the period. Grandfield & Dodd LLC’s holdings in NVIDIA were worth $1,344,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the third quarter worth about $27,000. Quest Partners LLC acquired a new stake in NVIDIA during the 2nd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA during the 2nd quarter worth approximately $31,000. West Financial Advisors LLC bought a new position in NVIDIA in the third quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Bank of America restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Stifel Nicolaus lifted their target price on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI upped their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Mizuho raised their price target on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Up 3.4 %

Shares of NASDAQ NVDA opened at $149.43 on Tuesday. The stock has a market capitalization of $3.66 trillion, a P/E ratio of 58.81, a PEG ratio of 2.43 and a beta of 1.64. The stock’s fifty day moving average is $139.75 and its 200 day moving average is $128.28. NVIDIA Co. has a 52 week low of $49.48 and a 52 week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s 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 in the company, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,226,886 shares of company stock valued at $161,499,400. 4.23% of the stock is currently owned by corporate insiders.

About NVIDIA

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.