NVIDIA Co. (NASDAQ:NVDA) Stake Increased by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 17.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,577 shares of the computer hardware maker’s stock after acquiring an additional 11,711 shares during the period. NVIDIA comprises approximately 4.6% of Strait & Sound Wealth Management LLC’s portfolio, making the stock its 6th largest position. Strait & Sound Wealth Management LLC’s holdings in NVIDIA were worth $9,421,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. FRG Family Wealth Advisors LLC boosted its stake in NVIDIA by 5.4% in the third quarter. FRG Family Wealth Advisors LLC now owns 21,039 shares of the computer hardware maker’s stock worth $2,555,000 after buying an additional 1,070 shares in the last quarter. First Dallas Securities Inc. raised its stake in shares of NVIDIA by 0.3% during the third quarter. First Dallas Securities Inc. now owns 207,314 shares of the computer hardware maker’s stock worth $25,176,000 after acquiring an additional 680 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after purchasing an additional 11,525,969 shares in the last quarter. Greenwood Gearhart Inc. grew its holdings in shares of NVIDIA by 15.2% during the 3rd quarter. Greenwood Gearhart Inc. now owns 267,472 shares of the computer hardware maker’s stock valued at $32,482,000 after purchasing an additional 35,195 shares during the last quarter. Finally, Valued Retirements Inc. bought a new position in shares of NVIDIA during the 3rd quarter valued at $866,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on 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 $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly 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. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last 90 days. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Up 3.1 %

NASDAQ:NVDA opened at $137.71 on Tuesday. NVIDIA Co. has a 52 week low of $56.11 and a 52 week high of $153.13. The stock has a market cap of $3.37 trillion, a price-to-earnings ratio of 54.20, a PEG ratio of 2.45 and a beta of 1.64. The company’s 50 day moving average price is $138.99 and its 200-day moving average price is $129.05. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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

NVIDIA Announces Dividend

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Truist Financial raised their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. TD Cowen boosted their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Needham & Company LLC raised their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Evercore ISI upped their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.63.

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.