Carderock Capital Management Inc. Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Carderock Capital Management Inc. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 72.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,497 shares of the computer hardware maker’s stock after buying an additional 22,421 shares during the quarter. Carderock Capital Management Inc.’s holdings in NVIDIA were worth $6,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. China Universal Asset Management Co. Ltd. grew its holdings in shares of NVIDIA by 52.2% in 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 purchasing an additional 13,135 shares in the last quarter. Defender Capital LLC. raised its holdings in NVIDIA by 40.5% during the first quarter. Defender Capital LLC. now owns 1,405 shares of the computer hardware maker’s stock worth $1,270,000 after purchasing an additional 405 shares in the last quarter. Empowered Funds LLC grew its stake in shares of NVIDIA by 23.0% during the 1st quarter. Empowered Funds LLC now owns 71,262 shares of the computer hardware maker’s stock worth $64,389,000 after purchasing an additional 13,315 shares during the period. Metis Global Partners LLC grew its holdings in NVIDIA by 0.3% in the first quarter. Metis Global Partners LLC now owns 138,945 shares of the computer hardware maker’s stock valued at $125,545,000 after purchasing an additional 381 shares during the last quarter. Finally, Insight 2811 Inc. purchased a new position in NVIDIA during the first quarter worth $277,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Mizuho raised their target price on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Oppenheimer raised their price objective on shares of NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Melius Research lifted their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Robert W. Baird lifted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. 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 stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $154.63.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction 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 $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 0.8 %

Shares of NVIDIA stock opened at $145.89 on Thursday. The stock has a market capitalization of $3.58 trillion, a P/E ratio of 68.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 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 50-day simple moving average of $133.00 and a 200 day simple moving average of $121.54.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. Research analysts expect that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has initiated a stock 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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.