Essex LLC Buys 187 Shares of NVIDIA Co. (NASDAQ:NVDA)

Essex LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,481 shares of the computer hardware maker’s stock after acquiring an additional 187 shares during the period. NVIDIA makes up about 0.9% of Essex LLC’s investment portfolio, making the stock its 27th largest position. Essex LLC’s holdings in NVIDIA were worth $4,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Atlas Wealth Partners LLC raised its holdings in shares of NVIDIA by 6.7% in the third quarter. Atlas Wealth Partners LLC now owns 3,216 shares of the computer hardware maker’s stock worth $391,000 after buying an additional 201 shares during the period. Cyndeo Wealth Partners LLC grew its position in NVIDIA by 48.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 198,587 shares of the computer hardware maker’s stock valued at $24,116,000 after acquiring an additional 64,423 shares during the last quarter. Pure Portfolios Holdings LLC purchased a new stake in NVIDIA in the third quarter worth $4,445,000. Bernardo Wealth Planning LLC lifted its position in shares of NVIDIA by 19.7% during the third quarter. Bernardo Wealth Planning LLC now owns 9,569 shares of the computer hardware maker’s stock worth $1,162,000 after purchasing an additional 1,573 shares during the last quarter. Finally, Madison Park Capital Advisors LLC boosted its stake in shares of NVIDIA by 2.4% during the third quarter. Madison Park Capital Advisors LLC now owns 4,230 shares of the computer hardware maker’s stock valued at $514,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NVDA shares. Westpark Capital boosted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Stifel Nicolaus increased their price objective on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Tuesday, August 6th. Benchmark upped their target price on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, The Goldman Sachs Group raised their price target on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade 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 this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 0.7 %

Shares of NVDA stock opened at $136.92 on Wednesday. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The firm has a market capitalization of $3.35 trillion, a PE ratio of 53.88, a P/E/G ratio of 2.60 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock’s 50-day simple moving average is $134.82 and its 200-day simple moving average is $123.17.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for 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%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Equities analysts expect that NVIDIA Co. will post 2.73 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued 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 declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are 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.