CCG Wealth Management LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

CCG Wealth Management LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,350 shares of the computer hardware maker’s stock after purchasing an additional 983 shares during the period. NVIDIA comprises 0.7% of CCG Wealth Management LLC’s holdings, making the stock its 24th biggest holding. CCG Wealth Management LLC’s holdings in NVIDIA were worth $1,257,000 at the end of the most recent quarter.

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

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $147.01 on Wednesday. The firm has a 50-day simple moving average of $132.42 and a 200-day simple moving average of $121.37. 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 capitalization of $3.61 trillion, a price-to-earnings ratio of 69.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77.

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

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 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 currently 1.88%.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on NVDA. Sanford C. Bernstein boosted their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. UBS Group lifted their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Craig Hallum raised their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Oppenheimer lifted their price objective on shares of NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $154.63.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of 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 ownership of the stock. The sale 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 business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.16 % 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 three months. 4.23% of the stock is owned by corporate 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.