Strategic Wealth Partners Ltd. Purchases 18,533 Shares of NVIDIA Co. (NASDAQ:NVDA)

Strategic Wealth Partners Ltd. grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 28.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,196 shares of the computer hardware maker’s stock after buying an additional 18,533 shares during the quarter. NVIDIA accounts for approximately 1.0% of Strategic Wealth Partners Ltd.’s holdings, making the stock its 25th largest position. Strategic Wealth Partners Ltd.’s holdings in NVIDIA were worth $10,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Mezzasalma Advisors LLC increased its stake in NVIDIA by 21.1% in the 1st quarter. Mezzasalma Advisors LLC now owns 13,013 shares of the computer hardware maker’s stock worth $11,758,000 after buying an additional 2,267 shares in the last quarter. Kesler Norman & Wride LLC increased its stake in NVIDIA by 76.1% in the 1st quarter. Kesler Norman & Wride LLC now owns 5,478 shares of the computer hardware maker’s stock worth $4,950,000 after buying an additional 2,368 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in NVIDIA by 0.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 185,778 shares of the computer hardware maker’s stock worth $156,879,000 after buying an additional 1,181 shares in the last quarter. American Institute for Advanced Investment Management LLP increased its stake in NVIDIA by 5.1% in the 1st quarter. American Institute for Advanced Investment Management LLP now owns 826 shares of the computer hardware maker’s stock worth $746,000 after buying an additional 40 shares in the last quarter. Finally, Benchmark Financial Wealth Advisors LLC increased its stake in NVIDIA by 2.3% in the 1st quarter. Benchmark Financial Wealth Advisors LLC now owns 6,593 shares of the computer hardware maker’s stock worth $5,957,000 after buying an additional 150 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

NVIDIA stock opened at $147.63 on Friday. The company has a 50 day moving average price of $127.27 and a 200-day moving average price of $117.94. 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 Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The company 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 (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during 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 company’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, equities analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The firm 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 was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Mizuho raised their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. DA Davidson restated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. HSBC raised their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Truist Financial raised their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

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.