Gries Financial LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Gries Financial LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 63.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,197 shares of the computer hardware maker’s stock after purchasing an additional 20,350 shares during the quarter. NVIDIA accounts for approximately 1.2% of Gries Financial LLC’s holdings, making the stock its 13th biggest position. Gries Financial LLC’s holdings in NVIDIA were worth $6,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the 1st quarter worth $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA in the first quarter valued at about $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was 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 valued at $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $141.95 on Monday. The company has a fifty day simple moving average of $134.01 and a two-hundred day simple moving average of $122.51. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly 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 the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Raymond James boosted their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Westpark Capital boosted their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. The Goldman Sachs Group boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday. Mizuho boosted their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Sanford C. Bernstein boosted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Four equities 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.