Wetzel Investment Advisors Inc. Purchases 6,855 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wetzel Investment Advisors Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,659.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,268 shares of the computer hardware maker’s stock after purchasing an additional 6,855 shares during the quarter. Wetzel Investment Advisors Inc.’s holdings in NVIDIA were worth $883,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. DHJJ Financial Advisors Ltd. grew its position in shares of 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 buying an additional 190 shares during the period. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter valued at approximately $26,000. Quest Partners LLC bought a new stake in NVIDIA in the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA in the third quarter valued at approximately $27,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in NVIDIA in the second quarter worth $31,000. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NVDA shares. Oppenheimer restated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Morgan Stanley increased their price target on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. The Goldman Sachs Group raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

NASDAQ NVDA opened at $130.39 on Wednesday. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The firm has a 50-day moving average price of $139.79 and a two-hundred day moving average price of $127.07. The company has a market capitalization of $3.19 trillion, a P/E ratio of 51.33, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results 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. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. Analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The business 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 $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 (DPR) is presently 1.57%.

NVIDIA declared that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,628,156 shares of company stock valued at $197,995,077 over the last quarter. 4.23% of the stock is owned by company insiders.

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.