Madrona Financial Services LLC Acquires 518 Shares of NVIDIA Co. (NASDAQ:NVDA)

Madrona Financial Services LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,285 shares of the computer hardware maker’s stock after purchasing an additional 518 shares during the period. Madrona Financial Services LLC’s holdings in NVIDIA were worth $1,249,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NVDA. Legal & General Group Plc raised its position in shares of NVIDIA by 884.0% in 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 purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its position in shares of NVIDIA by 854.1% in the second 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 purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. raised its position in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of 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 valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 3.2 %

NASDAQ:NVDA opened at $141.95 on Friday. The company has a fifty day moving average of $134.01 and a 200 day moving average of $122.06. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. 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 firm has a market capitalization of $3.48 trillion, a P/E ratio of 66.58, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the business posted $0.38 EPS. The firm’s revenue was up 93.6% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA declared that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently declared 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. 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 dividend payout ratio is currently 1.88%.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVDA. Needham & Company LLC boosted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush boosted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday. 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 note on Thursday, August 29th. Piper Sandler boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Morgan Stanley boosted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.