NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 450.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,735 shares of the computer hardware maker’s stock after purchasing an additional 8,785 shares during the quarter. Beech Hill Advisors Inc.’s holdings in NVIDIA were worth $1,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in 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 acquiring an additional 13,135 shares during the period. Empowered Funds LLC lifted its holdings in NVIDIA by 23.0% in the first quarter. Empowered Funds LLC now owns 71,262 shares of the computer hardware maker’s stock valued at $64,389,000 after acquiring an additional 13,315 shares during the period. Allen Investment Management LLC lifted its holdings in NVIDIA by 20.2% in the first quarter. Allen Investment Management LLC now owns 65,718 shares of the computer hardware maker’s stock valued at $59,380,000 after acquiring an additional 11,047 shares during the period. Monolith Management Ltd lifted its holdings in NVIDIA by 266.8% in the first quarter. Monolith Management Ltd now owns 70,250 shares of the computer hardware maker’s stock valued at $63,475,000 after acquiring an additional 51,100 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in NVIDIA by 155.3% in the first quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,700 shares of the computer hardware maker’s stock valued at $8,765,000 after acquiring an additional 5,900 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVDA. Bank of America reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday. Morgan Stanley upped their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Citigroup upped their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday. DA Davidson reaffirmed a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Finally, TD Cowen upped their target price on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $160.82.

NVIDIA Stock Performance

NVDA opened at $146.71 on Friday. The firm has a market cap of $3.60 trillion, a PE ratio of 68.81, a P/E/G ratio of 1.54 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. The business has a fifty day simple moving average of $133.55 and a 200-day simple moving average of $121.72. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. As a group, equities analysts predict that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

NVIDIA announced that its board has authorized a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

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

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.