IFG Advisors LLC Acquires 1,736 Shares of NVIDIA Co. (NASDAQ:NVDA)

IFG Advisors LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,823 shares of the computer hardware maker’s stock after acquiring an additional 1,736 shares during the period. NVIDIA accounts for about 0.7% of IFG Advisors LLC’s portfolio, making the stock its 26th largest position. IFG Advisors LLC’s holdings in NVIDIA were worth $3,136,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Legal & General Group Plc boosted its position 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 worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp grew its position in NVIDIA by 854.1% during 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 acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. grew its holdings 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 purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted 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 valued at $10,215,474,000 after acquiring an additional 73,589,208 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

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

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA declared that its board has approved a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend 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 1.57%.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 in the last three months. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NVDA shares. Truist Financial lifted their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research note on Friday. Piper Sandler upped their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Susquehanna upped their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, HSBC increased their price target on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Four 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’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Company 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.