NVIDIA Co. (NASDAQ:NVDA) is Custom Index Systems LLC’s 2nd Largest Position

Custom Index Systems LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,016 shares of the computer hardware maker’s stock after buying an additional 1,766 shares during the quarter. NVIDIA accounts for approximately 2.4% of Custom Index Systems LLC’s investment portfolio, making the stock its 2nd largest position. Custom Index Systems LLC’s holdings in NVIDIA were worth $4,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc lifted its position in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after acquiring an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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 approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,796,986 shares of company stock valued at $214,418,399 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Craig Hallum boosted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Melius Research boosted their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Piper Sandler upped their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Phillip Securities reissued an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

NASDAQ NVDA opened at $142.44 on Friday. The stock has a market cap of $3.49 trillion, a PE ratio of 56.06, a P/E/G ratio of 2.62 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $45.60 and a twelve month high of $152.89. The stock has a fifty day simple moving average of $138.16 and a 200-day simple moving average of $125.58.

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 company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the business posted $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

NVIDIA Announces Dividend

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

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.