Montis Financial LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Montis Financial LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,502 shares of the computer hardware maker’s stock after purchasing an additional 377 shares during the period. Montis Financial LLC’s holdings in NVIDIA were worth $790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the first quarter valued at about $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter valued at approximately $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. 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. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.3 %

Shares of NVDA opened at $146.76 on Friday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. 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 firm’s 50-day moving average price is $129.39 and its 200-day moving average price is $119.51. The firm has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 68.84, a PEG ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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 business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. Sell-side analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a stock repurchase 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend 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%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Citigroup boosted their target price on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James raised their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday. DA Davidson reissued a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. 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 company. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target 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.