NVIDIA Co. (NASDAQ:NVDA) Holdings Increased by Luts & Greenleigh Group Inc.

Luts & Greenleigh Group Inc. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,284 shares of the computer hardware maker’s stock after purchasing an additional 685 shares during the quarter. NVIDIA makes up approximately 2.4% of Luts & Greenleigh Group Inc.’s investment portfolio, making the stock its 6th largest position. Luts & Greenleigh Group Inc.’s holdings in NVIDIA were worth $2,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its stake in shares of NVIDIA by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after acquiring an additional 13,135 shares in the last quarter. Affinity Investment Advisors LLC purchased a new position in NVIDIA during the 1st quarter worth $1,239,000. Ogorek Anthony Joseph NY ADV raised its position in NVIDIA by 29.3% during the 1st quarter. Ogorek Anthony Joseph NY ADV now owns 485 shares of the computer hardware maker’s stock valued at $438,000 after purchasing an additional 110 shares in the last quarter. Avalon Advisory Group purchased a new stake in shares of NVIDIA in the 1st quarter worth $236,000. Finally, Valley Wealth Managers Inc. grew its position in shares of NVIDIA by 23.4% during the 1st quarter. Valley Wealth Managers Inc. now owns 1,753 shares of the computer hardware maker’s stock worth $1,584,000 after buying an additional 332 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

NASDAQ NVDA opened at $140.15 on Tuesday. The firm has a market capitalization of $3.44 trillion, a P/E ratio of 65.74, a PEG ratio of 1.49 and a beta of 1.66. The stock has a 50-day simple moving average of $131.64 and a two-hundred day simple moving average of $120.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the business earned $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 2.67 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA declared that its board has authorized a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NVDA shares. Redburn Atlantic initiated coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Sanford C. Bernstein lifted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Morgan Stanley boosted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Melius Research increased their target price on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $152.40.

Insider Activity 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 sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is 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.