Cedrus LLC Acquires 361 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cedrus LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,792 shares of the computer hardware maker’s stock after purchasing an additional 361 shares during the quarter. NVIDIA accounts for about 1.0% of Cedrus LLC’s portfolio, making the stock its 25th biggest position. Cedrus LLC’s holdings in NVIDIA were worth $2,646,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. University of Texas Texas AM Investment Management Co. increased its holdings in NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. boosted its position in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. grew its holdings in shares of NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares in the last quarter. Legal & General Group Plc raised its position in 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 valued at $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd boosted its position in NVIDIA by 1,106.0% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after acquiring an additional 488,148 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. DA Davidson upped their price objective on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday. Phillip Securities restated an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a report on Friday. Finally, Piper Sandler upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Four 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’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 in the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 4.2 %

Shares of NASDAQ NVDA opened at $136.02 on Tuesday. The stock has a 50-day moving average price of $134.39 and a two-hundred day moving average price of $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. The company has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.53, a PEG ratio of 2.60 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the company earned $0.38 EPS. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, analysts forecast that NVIDIA Co. will post 2.73 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. Investors 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 is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA announced that its Board of Directors has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.