Buffington Mohr McNeal Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Buffington Mohr McNeal increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,208 shares of the computer hardware maker’s stock after buying an additional 223 shares during the period. Buffington Mohr McNeal’s holdings in NVIDIA were worth $1,118,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its position in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday. HSBC boosted their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Barclays raised their price target on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday. Benchmark upped their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday. Finally, Mizuho lifted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $160.82.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the transaction, the director now owns 8,420,117 shares in the company, valued at $1,021,107,588.59. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on 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 approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

NVDA stock opened at $146.71 on Friday. The business’s fifty day moving average price is $133.55 and its 200 day moving average price is $121.72. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.60 trillion, a PE ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66.

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, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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.