Kovitz Investment Group Partners LLC Acquires 667,387 Shares of NVIDIA Co. (NASDAQ:NVDA)

Kovitz Investment Group Partners LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 66.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,666,658 shares of the computer hardware maker’s stock after acquiring an additional 667,387 shares during the quarter. NVIDIA accounts for about 1.3% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 11th biggest holding. Kovitz Investment Group Partners LLC’s holdings in NVIDIA were worth $202,399,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the third quarter valued at about $27,000. Quest Partners LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the 2nd quarter valued at about $31,000. West Financial Advisors LLC bought a new position in NVIDIA during the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in 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 period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 3.1 %

NVIDIA stock opened at $137.71 on Friday. NVIDIA Co. has a 12 month low of $56.11 and a 12 month high of $153.13. The stock has a fifty day simple moving average of $138.99 and a two-hundred day simple moving average of $129.00. 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 firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 54.20, a PEG ratio of 2.45 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping 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 return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. Equities analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. DA Davidson raised their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Citigroup upped their price target on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.63.

Insider Buying and Selling

In other news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by insiders.

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.