NVIDIA Co. (NASDAQ:NVDA) is Assetmark Inc.’s 10th Largest Position

Assetmark Inc. raised its position in NVIDIA Co. (NASDAQ:NVDA) by 9.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,895,147 shares of the computer hardware maker’s stock after purchasing an additional 424,680 shares during the quarter. NVIDIA accounts for approximately 1.7% of Assetmark Inc.’s portfolio, making the stock its 10th largest holding. Assetmark Inc.’s holdings in NVIDIA were worth $594,467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the 3rd quarter valued at $27,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter worth about $26,000. Quest Partners LLC acquired a new stake in shares of NVIDIA in the second quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA during the 2nd quarter valued at about $31,000. Finally, FPC Investment Advisory Inc. lifted its position in NVIDIA by 900.0% during the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after acquiring an additional 261 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,391,886 shares of company stock worth $181,666,050. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NVDA opened at $140.22 on Wednesday. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The stock has a market cap of $3.43 trillion, a PE ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The business’s 50 day moving average is $139.66 and its 200-day moving average is $127.49. 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 (NASDAQ:NVDA) last announced its 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. The firm 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 revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. On average, analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding 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 typically an indication that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid 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 yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Needham & Company LLC raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Citigroup boosted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. DA Davidson raised their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Four equities 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 stock. According to data from MarketBeat, the company currently has a consensus 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.