NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Baron Wealth Management LLC

Baron Wealth Management LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,942 shares of the computer hardware maker’s stock after purchasing an additional 1,079 shares during the quarter. NVIDIA comprises approximately 1.0% of Baron Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Baron Wealth Management LLC’s holdings in NVIDIA were worth $2,057,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NVDA. Joseph Group Capital Management acquired a new stake in shares of NVIDIA during the third quarter worth about $610,000. OneAscent Wealth Management LLC grew its stake in NVIDIA by 5.4% during the 3rd quarter. OneAscent Wealth Management LLC now owns 8,190 shares of the computer hardware maker’s stock worth $995,000 after buying an additional 418 shares during the last quarter. Meeder Advisory Services Inc. increased its position in NVIDIA by 3.0% during the third quarter. Meeder Advisory Services Inc. now owns 479,954 shares of the computer hardware maker’s stock worth $58,286,000 after buying an additional 13,926 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in NVIDIA in the third quarter valued at approximately $122,000. Finally, Napa Wealth Management boosted its holdings in shares of NVIDIA by 20.6% in the third quarter. Napa Wealth Management now owns 21,834 shares of the computer hardware maker’s stock valued at $2,652,000 after acquiring an additional 3,731 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $144.47 on Friday. The stock has a market cap of $3.54 trillion, a P/E ratio of 56.86, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 12 month low of $47.51 and a 12 month high of $152.89. The company has a 50 day moving average of $139.57 and a 200 day moving average of $128.25. 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 released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the company earned $0.38 EPS. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated 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 directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,226,886 shares of company stock worth $161,499,400. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Needham & Company LLC lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. William Blair began coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Robert W. Baird boosted 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. Redburn Atlantic began coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.