Matrix Asset Advisors Inc. NY Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Matrix Asset Advisors Inc. NY increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,807 shares of the computer hardware maker’s stock after purchasing an additional 107 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in NVIDIA were worth $1,070,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NVDA. University of Texas Texas AM Investment Management Co. increased its position in shares of NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after acquiring an additional 107,169 shares during the last quarter. Truepoint Inc. increased its position in shares of NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after purchasing an additional 208,362 shares during the period. Legal & General Group Plc boosted its holdings 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 worth $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd grew its position in NVIDIA by 1,106.0% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after buying an additional 488,148 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Activity

In other NVIDIA 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 transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their position. 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 the firm’s 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 sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % 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 valued at $254,784,327. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 0.3 %

Shares of NASDAQ NVDA opened at $146.76 on Friday. The stock has a market capitalization of $3.60 trillion, a P/E ratio of 68.84, a PEG ratio of 1.56 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The firm’s 50 day simple moving average is $129.39 and its two-hundred day simple moving average is $119.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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 company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. As a group, analysts expect that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA declared that its board has approved a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVDA. Morgan Stanley boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday. Melius Research increased their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company upped their price target on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Sanford C. Bernstein lifted their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Company 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.