Callan Family Office LLC Buys 26,386 Shares of NVIDIA Co. (NASDAQ:NVDA)

Callan Family Office LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 141.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,096 shares of the computer hardware maker’s stock after buying an additional 26,386 shares during the period. NVIDIA comprises approximately 0.9% of Callan Family Office LLC’s portfolio, making the stock its 23rd largest position. Callan Family Office LLC’s holdings in NVIDIA were worth $5,476,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp lifted its position in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NVDA shares. Wells Fargo & Company raised their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Robert W. Baird raised their price target on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. William Blair assumed coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, HSBC increased their target price on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Down 0.8 %

Shares of NVDA stock opened at $147.63 on Friday. The stock’s 50-day simple moving average is $127.27 and its 200-day simple moving average is $117.94. The firm has a market capitalization of $3.62 trillion, a PE ratio of 69.25, a P/E/G ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. Equities analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current year.

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 given 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 declared that its board has authorized a share buyback program 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated 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 directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were 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 approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,156,270 shares of company stock worth $254,784,327. Insiders own 4.23% of the company’s stock.

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.