Montz Harcus Wealth Management LLC Acquires 262 Shares of NVIDIA Co. (NASDAQ:NVDA)

Montz Harcus Wealth Management LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 17,886 shares of the computer hardware maker’s stock after acquiring an additional 262 shares during the period. NVIDIA makes up 1.3% of Montz Harcus Wealth Management LLC’s holdings, making the stock its 15th largest position. Montz Harcus Wealth Management LLC’s holdings in NVIDIA were worth $2,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC bought a new position in NVIDIA during the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. increased its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth about $27,000. Finally, Quest Partners LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth about $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction 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 sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,796,986 shares of company stock valued at $214,418,399 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Westpark Capital increased their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. DA Davidson increased their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Wedbush raised their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Four equities research 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. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $142.44 on Friday. 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 firm has a fifty day moving average price of $138.16 and a 200 day moving average price of $125.58. NVIDIA Co. has a fifty-two week low of $45.60 and a fifty-two week high of $152.89. The firm has a market cap of $3.49 trillion, a price-to-earnings ratio of 56.06, a P/E/G ratio of 2.62 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

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

About NVIDIA

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.