Means Investment CO. Inc. Acquires 15,036 Shares of NVIDIA Co. (NASDAQ:NVDA)

Means Investment CO. Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 240,107 shares of the computer hardware maker’s stock after buying an additional 15,036 shares during the period. NVIDIA accounts for about 3.2% of Means Investment CO. Inc.’s holdings, making the stock its 8th biggest holding. Means Investment CO. Inc.’s holdings in NVIDIA were worth $29,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its position in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the last quarter. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the first quarter worth about $27,000. Finally, Quest Partners LLC purchased a new position in NVIDIA during the second quarter worth about $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 4.2 %

NASDAQ NVDA opened at $136.02 on Tuesday. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89. The firm has a 50-day moving average price of $134.39 and a 200 day moving average price of $122.84. The stock has a market capitalization of $3.33 trillion, a P/E ratio of 53.53, a P/E/G ratio of 2.60 and a beta of 1.66. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA announced that its Board of Directors has approved a share buyback plan 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid 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 dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. Oppenheimer restated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Benchmark raised their target price on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Evercore ISI upped their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Needham & Company LLC raised their price objective on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, DA Davidson upped their target price on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently 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.