MRA Advisory Group Purchases 1,299 Shares of NVIDIA Co. (NASDAQ:NVDA)

MRA Advisory Group lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 4.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,537 shares of the computer hardware maker’s stock after purchasing an additional 1,299 shares during the quarter. NVIDIA accounts for about 2.2% of MRA Advisory Group’s holdings, making the stock its 13th largest holding. MRA Advisory Group’s holdings in NVIDIA were worth $4,073,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Hamilton Wealth LLC increased its position in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after buying an additional 9 shares during the period. Curran Financial Partners LLC boosted its position in NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after acquiring an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC grew its holdings in shares of NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after acquiring an additional 12 shares during the period. Poehling Capital Management INC. grew its holdings in shares of NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after acquiring an additional 14 shares during the period. Finally, FSA Wealth Management LLC raised its position in shares of NVIDIA by 3.0% in the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after acquiring an additional 14 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NVDA. JPMorgan Chase & Co. upped their price target on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Craig Hallum upped their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Evercore ISI lifted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. KeyCorp boosted their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Robert W. Baird raised their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Trading Up 2.8 %

NASDAQ:NVDA opened at $139.91 on Wednesday. NVIDIA Co. has a one year low of $44.90 and a one year high of $144.42. The business has a fifty day moving average price of $125.68 and a 200-day moving average price of $117.05. The firm has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 65.62, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. The business’s quarterly revenue was up 122.4% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA announced that its board has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,276,270 shares of company stock worth $267,363,927 over the last three months. 4.23% of the stock is currently owned by company 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.