Channel Wealth LLC Has $8.13 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Channel Wealth LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,945 shares of the computer hardware maker’s stock after purchasing an additional 4,297 shares during the quarter. NVIDIA makes up approximately 2.7% of Channel Wealth LLC’s portfolio, making the stock its 7th biggest holding. Channel Wealth LLC’s holdings in NVIDIA were worth $8,130,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. CGC Financial Services LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $26,000. Quest Partners LLC bought a new stake in shares of NVIDIA during the second quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA in the second quarter valued at approximately $31,000. Finally, FPC Investment Advisory Inc. grew its stake in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after acquiring an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,556,986 shares of company stock valued at $201,687,727. 4.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. DA Davidson increased their target price 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. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Monday, November 18th. Morgan Stanley boosted their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Finally, HSBC lifted their price target on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $134.70 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $3.30 trillion, a PE ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63. The stock has a fifty day moving average price of $139.63 and a 200 day moving average price of $127.32. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the firm earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

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

NVIDIA Announces Dividend

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