NVIDIA Co. (NASDAQ:NVDA) Stake Lifted by Rede Wealth LLC

Rede Wealth LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,319 shares of the computer hardware maker’s stock after purchasing an additional 226 shares during the quarter. NVIDIA makes up approximately 1.4% of Rede Wealth LLC’s portfolio, making the stock its 8th biggest position. Rede Wealth LLC’s holdings in NVIDIA were worth $3,682,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of NVIDIA by 52.2% in the 1st 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 purchasing an additional 13,135 shares during the last quarter. D Orazio & Associates Inc. increased its position in NVIDIA by 9.4% during the first quarter. D Orazio & Associates Inc. now owns 3,468 shares of the computer hardware maker’s stock worth $3,134,000 after buying an additional 298 shares during the period. TBH Global Asset Management LLC lifted its stake in NVIDIA by 23.0% in the first quarter. TBH Global Asset Management LLC now owns 1,114 shares of the computer hardware maker’s stock valued at $1,007,000 after buying an additional 208 shares during the last quarter. Planning Directions Inc. boosted its holdings in shares of NVIDIA by 3.0% in the first quarter. Planning Directions Inc. now owns 935 shares of the computer hardware maker’s stock valued at $844,000 after acquiring an additional 27 shares during the period. Finally, Ledyard National Bank grew its position in shares of NVIDIA by 14.5% during the first quarter. Ledyard National Bank now owns 2,323 shares of the computer hardware maker’s stock worth $2,099,000 after acquiring an additional 295 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 0.7 %

Shares of NVDA opened at $136.92 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The stock has a market cap of $3.35 trillion, a price-to-earnings ratio of 53.88, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66. The firm has a 50 day simple moving average of $134.82 and a 200-day simple moving average of $123.17.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 2.73 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on NVDA shares. HSBC upped their price target on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Truist Financial upped their target price on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Robert W. Baird raised their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. UBS Group boosted their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, TD Cowen increased their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

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.