AAFMAA Wealth Management & Trust LLC Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

AAFMAA Wealth Management & Trust LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 36.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,531 shares of the computer hardware maker’s stock after purchasing an additional 9,295 shares during the quarter. NVIDIA accounts for about 1.8% of AAFMAA Wealth Management & Trust LLC’s holdings, making the stock its 14th biggest position. AAFMAA Wealth Management & Trust LLC’s holdings in NVIDIA were worth $4,193,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NVDA. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA in the first quarter valued at $27,000. TCTC Holdings LLC purchased a new stake in shares of NVIDIA in the 1st quarter worth about $82,000. Delos Wealth Advisors LLC grew its stake in NVIDIA by 600.0% in the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock valued at $101,000 after acquiring an additional 96 shares during the last quarter. Finally, Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the second quarter worth about $25,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $145.89 on Thursday. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The firm has a market capitalization of $3.58 trillion, a P/E ratio of 68.49, a PEG ratio of 1.49 and a beta of 1.66. The firm’s 50 day moving average is $133.00 and its two-hundred day moving average is $121.54. 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 (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. Analysts anticipate that NVIDIA Co. will post 2.67 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. UBS Group upped their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Craig Hallum boosted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Finally, Morgan Stanley increased their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. 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’s stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $154.63.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $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 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. Company insiders own 4.23% of the company’s stock.

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.