Empower Advisory Group LLC Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Empower Advisory Group LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,769,091 shares of the computer hardware maker’s stock after purchasing an additional 16,409 shares during the period. NVIDIA makes up approximately 1.1% of Empower Advisory Group LLC’s holdings, making the stock its 22nd largest position. Empower Advisory Group LLC’s holdings in NVIDIA were worth $336,278,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NVDA. University of Texas Texas AM Investment Management Co. boosted its stake in NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. raised its holdings in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares in the last quarter. Blue Square Asset Management LLC grew its holdings in shares of NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after buying an additional 10,136 shares during the last quarter. Finally, Narwhal Capital Management increased its position in shares of NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after acquiring an additional 26,373 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In related news, 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 in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the transaction, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,351,886 shares of company stock valued at $176,825,650 over the last three months. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent analyst reports. Truist Financial boosted their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. William Blair assumed coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Benchmark raised their target price on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Wedbush boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, HSBC increased their price target on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 14th. 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 data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Down 2.1 %

Shares of NVDA opened at $137.01 on Friday. The stock has a market capitalization of $3.36 trillion, a PE ratio of 53.92, a P/E/G ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company’s 50-day simple moving average is $139.97 and its 200-day simple moving average is $127.95.

NVIDIA (NASDAQ:NVDA) last posted 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the company earned $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. Analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was 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%.

NVIDIA Company 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.