Arete Wealth Advisors LLC Takes $23.51 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Arete Wealth Advisors LLC acquired a new stake in NVIDIA Co. (NASDAQ:NVDA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 194,968 shares of the computer hardware maker’s stock, valued at approximately $23,514,000. NVIDIA comprises 2.0% of Arete Wealth Advisors LLC’s portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Asset Allocation Strategies LLC boosted its holdings in shares of NVIDIA by 38.1% in the third quarter. Asset Allocation Strategies LLC now owns 6,944 shares of the computer hardware maker’s stock valued at $843,000 after acquiring an additional 1,915 shares in the last quarter. Chiron Investment Management LLC boosted its holdings in NVIDIA by 2.3% in the 3rd quarter. Chiron Investment Management LLC now owns 111,878 shares of the computer hardware maker’s stock valued at $13,586,000 after purchasing an additional 2,561 shares in the last quarter. Brown Financial Advisors increased its position in NVIDIA by 16.4% during the 3rd quarter. Brown Financial Advisors now owns 34,822 shares of the computer hardware maker’s stock worth $4,229,000 after purchasing an additional 4,899 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of NVIDIA by 13.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 630,057 shares of the computer hardware maker’s stock worth $78,339,000 after buying an additional 72,548 shares in the last quarter. Finally, Gould Capital LLC lifted its holdings in shares of NVIDIA by 10.7% in the 3rd quarter. Gould Capital LLC now owns 2,563 shares of the computer hardware maker’s stock valued at $311,000 after buying an additional 247 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Wedbush increased their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company upped their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Bank of America restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Trading Up 2.3 %

NASDAQ:NVDA opened at $140.83 on Wednesday. The stock has a fifty day simple moving average of $138.84 and a 200 day simple moving average of $129.11. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 55.42, a price-to-earnings-growth ratio of 2.48 and a beta of 1.64. NVIDIA Co. has a 1-year low of $58.58 and a 1-year high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors 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 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

About NVIDIA

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.