NVIDIA Co. (NASDAQ:NVDA) is Beacon Harbor Wealth Advisors Inc.’s 10th Largest Position

Beacon Harbor Wealth Advisors Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,755 shares of the computer hardware maker’s stock after selling 4,354 shares during the quarter. NVIDIA accounts for 2.2% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 10th largest position. Beacon Harbor Wealth Advisors Inc.’s holdings in NVIDIA were worth $9,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Legal & General Group Plc boosted its holdings in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp lifted its holdings in 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 worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in 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 during the period. Dimensional Fund Advisors LP grew its holdings in shares of NVIDIA by 1,123.2% during 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 purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of NVIDIA by 808.6% during the 2nd 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 during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $201,687,727 over the last 90 days. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVDA. Craig Hallum boosted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Morgan Stanley boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft raised their price target 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Mizuho increased their price objective on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $134.70 on Monday. The company has a 50-day moving average price of $139.63 and a two-hundred day moving average price of $127.32. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.30 trillion, a PE ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63.

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

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

NVIDIA Announces Dividend

The company 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 dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. 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.