Oxinas Partners Wealth Management LLC Acquires 3,561 Shares of NVIDIA Co. (NASDAQ:NVDA)

Oxinas Partners Wealth Management LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 46.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,270 shares of the computer hardware maker’s stock after purchasing an additional 3,561 shares during the quarter. Oxinas Partners Wealth Management LLC’s holdings in NVIDIA were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Magnus Financial Group LLC lifted its position in NVIDIA by 10.8% during the third quarter. Magnus Financial Group LLC now owns 33,614 shares of the computer hardware maker’s stock valued at $4,082,000 after purchasing an additional 3,284 shares during the period. Luts & Greenleigh Group Inc. raised its stake in NVIDIA by 3.5% during the 3rd quarter. Luts & Greenleigh Group Inc. now owns 20,284 shares of the computer hardware maker’s stock valued at $2,463,000 after buying an additional 685 shares during the last quarter. Investment Advisory Group LLC lifted its holdings in shares of NVIDIA by 15.3% during the 3rd quarter. Investment Advisory Group LLC now owns 14,120 shares of the computer hardware maker’s stock valued at $1,715,000 after buying an additional 1,878 shares during the period. American Asset Management Inc. boosted its stake in shares of NVIDIA by 69.8% in the 3rd quarter. American Asset Management Inc. now owns 2,938 shares of the computer hardware maker’s stock worth $357,000 after buying an additional 1,208 shares during the last quarter. Finally, Dover Advisors LLC grew its holdings in shares of NVIDIA by 24.5% in the third quarter. Dover Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $352,000 after acquiring an additional 570 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NVDA shares. Needham & Company LLC increased their target price on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Robert W. Baird increased their price objective 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. Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Citigroup increased their price target on shares of NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.40.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the business’s 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 approximately $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 quarter, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Down 1.3 %

Shares of NASDAQ:NVDA opened at $140.15 on Tuesday. The company has a 50-day moving average price of $131.64 and a 200 day moving average price of $120.96. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $149.77. The company has a market cap of $3.44 trillion, a price-to-earnings ratio of 65.74, a PEG ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Co. will post 2.67 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid 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 dividend payout ratio is currently 1.88%.

NVIDIA announced that its board has authorized a stock repurchase 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

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.