NVIDIA Co. (NASDAQ:NVDA) is Josh Arnold Investment Consultant LLC’s 3rd Largest Position

Josh Arnold Investment Consultant LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 52.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,374 shares of the computer hardware maker’s stock after buying an additional 8,429 shares during the period. NVIDIA comprises about 2.4% of Josh Arnold Investment Consultant LLC’s investment portfolio, making the stock its 3rd largest position. Josh Arnold Investment Consultant LLC’s holdings in NVIDIA were worth $2,960,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in NVIDIA during the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA during the third quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA during the second quarter valued at about $31,000. West Financial Advisors LLC acquired a new stake in NVIDIA in the third quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. grew its position in 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 buying an additional 140 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NVDA stock opened at $131.76 on Wednesday. The stock has a market capitalization of $3.23 trillion, a PE ratio of 51.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The stock’s 50 day simple moving average is $139.68 and its 200 day simple moving average is $128.82. NVIDIA Co. has a 12-month low of $54.74 and a 12-month high of $153.13. 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 posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s revenue was up 93.6% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. 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 dividend payout ratio is 1.57%.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft upped their target price on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Wells Fargo & Company lifted their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Needham & Company LLC upped their price objective on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. lifted their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.27.

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.