American Asset Management Inc. Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

American Asset Management Inc. increased its position in NVIDIA Co. (NASDAQ:NVDA) by 69.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,938 shares of the computer hardware maker’s stock after buying an additional 1,208 shares during the quarter. NVIDIA comprises about 0.4% of American Asset Management Inc.’s investment portfolio, making the stock its 14th biggest position. American Asset Management Inc.’s holdings in NVIDIA were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Dover Advisors LLC increased its stake in NVIDIA by 24.5% during 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 last quarter. Corepath Wealth Partners LLC grew its holdings in shares of NVIDIA by 104.0% during the 3rd quarter. Corepath Wealth Partners LLC now owns 4,413 shares of the computer hardware maker’s stock worth $536,000 after purchasing an additional 2,250 shares during the period. Keystone Wealth Services LLC increased its position in NVIDIA by 150.9% during the 3rd quarter. Keystone Wealth Services LLC now owns 61,734 shares of the computer hardware maker’s stock worth $7,497,000 after purchasing an additional 37,125 shares in the last quarter. First Pacific Financial increased its position in NVIDIA by 38.7% during the 3rd quarter. First Pacific Financial now owns 18,442 shares of the computer hardware maker’s stock worth $2,240,000 after purchasing an additional 5,150 shares in the last quarter. Finally, Lockerman Financial Group Inc. raised its holdings in NVIDIA by 2.2% in the third quarter. Lockerman Financial Group Inc. now owns 11,345 shares of the computer hardware maker’s stock valued at $1,378,000 after buying an additional 241 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of the company’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 directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NVDA shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Bank of America increased their price target on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Citigroup upped their target price on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC raised 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. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Stock Performance

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

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

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

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.