waypoint wealth counsel Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

waypoint wealth counsel raised its position in NVIDIA Co. (NASDAQ:NVDA) by 15.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,830 shares of the computer hardware maker’s stock after buying an additional 2,852 shares during the quarter. NVIDIA makes up approximately 1.7% of waypoint wealth counsel’s portfolio, making the stock its 14th biggest position. waypoint wealth counsel’s holdings in NVIDIA were worth $2,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Privium Fund Management UK Ltd purchased a new stake in NVIDIA in the first quarter valued at approximately $2,635,000. Financial Strategies Group Inc. purchased a new position in shares of NVIDIA during the first quarter worth about $268,000. Woodmont Investment Counsel LLC grew its holdings in shares of NVIDIA by 1.8% during the first quarter. Woodmont Investment Counsel LLC now owns 1,498 shares of the computer hardware maker’s stock worth $1,354,000 after buying an additional 27 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of NVIDIA by 1.6% during the first quarter. Capital Advisors Ltd. LLC now owns 1,603 shares of the computer hardware maker’s stock worth $1,448,000 after buying an additional 26 shares during the last quarter. Finally, Dash Acquisitions Inc. grew its holdings in shares of NVIDIA by 10.2% during the first quarter. Dash Acquisitions Inc. now owns 1,124 shares of the computer hardware maker’s stock worth $945,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $139.91 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 65.62, a PEG ratio of 1.43 and a beta of 1.66. The company’s 50 day simple moving average is $125.68 and its 200 day simple moving average is $117.05. NVIDIA Co. has a 1 year low of $44.90 and a 1 year high of $144.42.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,276,270 shares of company stock valued at $267,363,927 in the last ninety days. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of a number of analyst reports. UBS Group restated a “buy” rating and set a $150.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Craig Hallum upped their price objective 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. Finally, Piper Sandler restated an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Company 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.