Davies Financial Advisors Inc. Has $3.25 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Davies Financial Advisors Inc. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,795 shares of the computer hardware maker’s stock after buying an additional 295 shares during the quarter. NVIDIA comprises approximately 2.8% of Davies Financial Advisors Inc.’s investment portfolio, making the stock its 9th biggest position. Davies Financial Advisors Inc.’s holdings in NVIDIA were worth $3,254,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. DLK Investment Management LLC lifted its holdings in shares of NVIDIA by 7.1% during the 3rd quarter. DLK Investment Management LLC now owns 7,039 shares of the computer hardware maker’s stock worth $855,000 after acquiring an additional 464 shares during the period. LVW Advisors LLC lifted its holdings in NVIDIA by 1.6% during the 3rd quarter. LVW Advisors LLC now owns 70,482 shares of the computer hardware maker’s stock worth $8,559,000 after buying an additional 1,128 shares during the period. ORBA Wealth Advisors L.L.C. boosted its stake in shares of NVIDIA by 3.8% in the 3rd quarter. ORBA Wealth Advisors L.L.C. now owns 4,882 shares of the computer hardware maker’s stock valued at $593,000 after purchasing an additional 180 shares during the last quarter. Guild Investment Management Inc. grew its holdings in NVIDIA by 2.5% during the 3rd quarter. Guild Investment Management Inc. now owns 67,535 shares of the computer hardware maker’s stock worth $8,202,000 after acquiring an additional 1,655 shares during the period. Finally, Jessup Wealth Management Inc lifted its stake in NVIDIA by 35.6% in the third quarter. Jessup Wealth Management Inc now owns 142,915 shares of the computer hardware maker’s stock valued at $17,356,000 after buying an additional 37,538 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $146.27 on Thursday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The firm has a 50 day moving average of $128.59 and a 200 day moving average of $119.33. The company has a market capitalization of $3.59 trillion, a P/E ratio of 68.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.66 earnings per share for the current fiscal 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 given 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 payout ratio is currently 1.88%.

NVIDIA declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup boosted their price objective on NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI increased their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. The Goldman Sachs Group increased their target price on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Robert W. Baird boosted their target price on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Melius Research increased their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.48.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated 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 transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $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 have sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. 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.