Continuum Wealth Advisors LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Continuum Wealth Advisors LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 70.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,787 shares of the computer hardware maker’s stock after buying an additional 1,567 shares during the quarter. Continuum Wealth Advisors LLC’s holdings in NVIDIA were worth $460,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NVDA. Vanguard Group Inc. lifted its stake in shares of NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the last quarter. Legal & General Group Plc increased its stake in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp increased its stake in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. boosted its stake 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 worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in NVIDIA by 1,123.2% during 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 buying an additional 84,515,429 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVDA. Wells Fargo & Company upped their price objective on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday. Redburn Atlantic initiated coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. Phillip Securities restated an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday. Finally, William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $141.95 on Monday. The firm has a market capitalization of $3.48 trillion, a PE ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. The business’s fifty day moving average price is $134.01 and its 200 day moving average price is $122.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.79. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 114.83% and a net margin of 55.69%. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

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

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 trade represents a 14.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on 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 transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last quarter. 4.23% of the stock is currently owned by insiders.

About NVIDIA

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.