Powers Advisory Group LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Powers Advisory Group LLC acquired a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,975 shares of the computer hardware maker’s stock, valued at approximately $240,000.

Other hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its holdings in NVIDIA by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after buying an additional 13,135 shares in the last quarter. Berkshire Money Management Inc. acquired a new stake in shares of NVIDIA during the 1st quarter valued at about $866,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of NVIDIA by 12.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,500,599 shares of the computer hardware maker’s stock valued at $1,355,881,000 after purchasing an additional 164,798 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in NVIDIA by 42.0% in the 1st quarter. Koshinski Asset Management Inc. now owns 13,754 shares of the computer hardware maker’s stock worth $12,428,000 after purchasing an additional 4,069 shares during the period. Finally, New Insight Wealth Advisors boosted its position in NVIDIA by 2.4% during the first quarter. New Insight Wealth Advisors now owns 1,319 shares of the computer hardware maker’s stock worth $1,192,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $136.02 on Tuesday. The stock has a market capitalization of $3.33 trillion, a price-to-earnings ratio of 53.53, a PEG ratio of 2.60 and a beta of 1.66. The business’s 50 day moving average is $134.39 and its two-hundred day moving average is $122.84. 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 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm 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%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. Research analysts expect that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA declared that its Board of Directors has authorized 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 an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Announces Dividend

The business also recently announced 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 is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NVDA shares. Mizuho upped their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Wells Fargo & Company lifted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Truist Financial upped their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.