Hart & Patterson Financial Group LLC Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

Hart & Patterson Financial Group LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,596 shares of the computer hardware maker’s stock after purchasing an additional 216 shares during the quarter. Hart & Patterson Financial Group LLC’s holdings in NVIDIA were worth $437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Shaker Investments LLC OH boosted its position in shares of NVIDIA by 7.9% during the third quarter. Shaker Investments LLC OH now owns 66,949 shares of the computer hardware maker’s stock worth $8,130,000 after acquiring an additional 4,881 shares during the last quarter. Ballew Advisors Inc grew its holdings in shares of NVIDIA by 4.7% in the third quarter. Ballew Advisors Inc now owns 3,775 shares of the computer hardware maker’s stock valued at $501,000 after purchasing an additional 171 shares in the last quarter. CHICAGO TRUST Co NA increased its holdings in shares of NVIDIA by 6.1% in the 3rd quarter. CHICAGO TRUST Co NA now owns 141,064 shares of the computer hardware maker’s stock worth $17,131,000 after buying an additional 8,085 shares during the last quarter. FOCUS Wealth Advisors LLC lifted its holdings in shares of NVIDIA by 2.1% in the 3rd quarter. FOCUS Wealth Advisors LLC now owns 10,280 shares of the computer hardware maker’s stock valued at $1,248,000 after acquiring an additional 210 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of NVIDIA by 45.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 992,707 shares of the computer hardware maker’s stock valued at $120,554,000 after purchasing an additional 309,363 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $141.98 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a fifty day moving average price of $130.18 and a 200 day moving average price of $119.70. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The stock has a market cap of $3.48 trillion, a PE ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management 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 $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated 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 in the company, valued at $8,459,373,085.80. This represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 in the last quarter. 4.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on NVDA shares. Benchmark reiterated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Morgan Stanley increased their price target on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Melius Research increased their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Robert W. Baird lifted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Five equities 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 MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target 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.