Canopy Partners LLC Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

Canopy Partners LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,294 shares of the computer hardware maker’s stock after acquiring an additional 567 shares during the period. NVIDIA accounts for about 2.6% of Canopy Partners LLC’s investment portfolio, making the stock its 11th largest position. Canopy Partners LLC’s holdings in NVIDIA were worth $5,986,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of NVIDIA in the second quarter worth $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA in the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the 2nd quarter valued at $31,000. West Financial Advisors LLC purchased a new stake in NVIDIA in the 3rd quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NVDA shares. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Barclays upped their price objective on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Loop Capital reiterated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Bank of America restated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Finally, TD Cowen increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $140.11 on Friday. NVIDIA Co. has a 12-month low of $51.69 and a 12-month high of $153.13. The business’s fifty day simple moving average is $139.89 and its 200-day simple moving average is $128.54. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.14, a PEG ratio of 2.43 and a beta of 1.64. 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 posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $33.15 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 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.