Avondale Wealth Management Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Avondale Wealth Management raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,205 shares of the computer hardware maker’s stock after acquiring an additional 325 shares during the period. NVIDIA makes up 1.6% of Avondale Wealth Management’s portfolio, making the stock its 14th biggest position. Avondale Wealth Management’s holdings in NVIDIA were worth $2,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Burns Matteson Capital Management LLC increased its stake in NVIDIA by 27.1% during the 3rd quarter. Burns Matteson Capital Management LLC now owns 20,420 shares of the computer hardware maker’s stock valued at $2,480,000 after purchasing an additional 4,351 shares in the last quarter. Code Waechter LLC purchased a new position in NVIDIA in the 3rd quarter worth approximately $747,000. McNamara Financial Services Inc. bought a new position in NVIDIA in the 3rd quarter valued at approximately $2,004,000. Total Wealth Planning LLC boosted its stake in NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after purchasing an additional 78 shares during the last quarter. Finally, Perfromance Wealth Partners LLC increased its holdings in shares of NVIDIA by 2.7% in the 3rd quarter. Perfromance Wealth Partners LLC now owns 1,306,313 shares of the computer hardware maker’s stock worth $158,638,000 after purchasing an additional 33,953 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $146.76 on Friday. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The firm has a market capitalization of $3.60 trillion, a P/E ratio of 68.84, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66. The company has a fifty day simple moving average of $129.39 and a two-hundred day simple moving average of $119.51. 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 announced its quarterly earnings results 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 firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. Analysts anticipate that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a share buyback 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

Analyst Ratings Changes

Several equities research analysts recently commented on NVDA shares. Oppenheimer lifted their price objective on NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial increased their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group raised their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

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.