Axxcess Wealth Management LLC Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Axxcess Wealth Management LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 14.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 493,098 shares of the computer hardware maker’s stock after acquiring an additional 62,633 shares during the quarter. NVIDIA accounts for approximately 1.5% of Axxcess Wealth Management LLC’s investment portfolio, making the stock its 9th biggest position. Axxcess Wealth Management LLC’s holdings in NVIDIA were worth $59,882,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NVDA. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the 2nd quarter worth $26,000. Quest Partners LLC bought a new position in NVIDIA during the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA during the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA in the second quarter valued at $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 worth $34,000 after purchasing an additional 261 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Truist Financial lifted their target price on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Robert W. Baird upped their price target on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Monday, November 18th. Finally, DA Davidson upped their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

NVDA stock opened at $140.22 on Thursday. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The firm has a 50-day moving average of $139.84 and a 200 day moving average of $127.62. 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 $3.43 trillion, a P/E ratio of 55.18, a PEG ratio of 2.43 and a beta of 1.64.

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, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. On average, sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,391,886 shares of company stock valued at $181,666,050. 4.23% of the stock is owned by corporate 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.