Intact Investment Management Inc. Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Intact Investment Management Inc. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,650 shares of the computer hardware maker’s stock after acquiring an additional 8,650 shares during the period. Intact Investment Management Inc.’s holdings in NVIDIA were worth $9,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the 3rd quarter valued at approximately $27,000. CGC Financial Services LLC purchased a new stake in NVIDIA during the 2nd quarter valued at $26,000. Quest Partners LLC purchased a new stake in NVIDIA during the 2nd quarter valued at $27,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the second quarter worth $31,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Down 1.2 %

Shares of NVIDIA stock 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’s 50 day simple moving average is $139.79 and its two-hundred day simple moving average is $127.07. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 51.33, a PEG ratio of 2.43 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign 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 issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,628,156 shares of company stock valued at $197,995,077. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NVDA shares. Stifel Nicolaus increased their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Evercore ISI raised their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Robert W. Baird upped their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Raymond James raised their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley increased their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

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.