Olistico Wealth LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Olistico Wealth LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,761 shares of the computer hardware maker’s stock after acquiring an additional 2,909 shares during the quarter. NVIDIA comprises about 3.1% of Olistico Wealth LLC’s investment portfolio, making the stock its 6th largest holding. Olistico Wealth LLC’s holdings in NVIDIA were worth $5,071,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Reliant Investment Management LLC bought a new position in NVIDIA during the third quarter worth about $226,000. City Holding Co. increased its position in NVIDIA by 4.6% during the third quarter. City Holding Co. now owns 89,165 shares of the computer hardware maker’s stock worth $10,828,000 after acquiring an additional 3,896 shares during the period. Sugarloaf Wealth Management LLC increased its position in NVIDIA by 4.1% during the third quarter. Sugarloaf Wealth Management LLC now owns 17,100 shares of the computer hardware maker’s stock worth $2,077,000 after acquiring an additional 670 shares during the period. Park Place Capital Corp grew its stake in NVIDIA by 78.2% during the third quarter. Park Place Capital Corp now owns 58,626 shares of the computer hardware maker’s stock worth $7,120,000 after buying an additional 25,726 shares in the last quarter. Finally, Traveka Wealth LLC grew its stake in NVIDIA by 0.9% during the third quarter. Traveka Wealth LLC now owns 35,114 shares of the computer hardware maker’s stock worth $4,264,000 after buying an additional 304 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of analyst reports. Raymond James increased their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Needham & Company LLC increased their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Evercore ISI raised their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Morgan Stanley restated an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Thursday, October 10th. Finally, Bank of America raised their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. Five investment 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. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Stock Performance

NASDAQ NVDA opened at $147.63 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.62 trillion, a P/E ratio of 69.25, a PEG ratio of 1.54 and a beta of 1.66. The company has a fifty day simple moving average of $127.27 and a 200 day simple moving average of $117.94. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $149.77.

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

NVIDIA Cuts Dividend

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

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

Insider Activity

In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’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 completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. Company 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.