Howard Financial Services LTD. Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Howard Financial Services LTD. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 68,825 shares of the computer hardware maker’s stock after buying an additional 1,207 shares during the quarter. NVIDIA makes up approximately 1.2% of Howard Financial Services LTD.’s portfolio, making the stock its 23rd biggest holding. Howard Financial Services LTD.’s holdings in NVIDIA were worth $8,358,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NVDA. Legal & General Group Plc grew its position in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Down 0.8 %

NVIDIA stock opened at $147.63 on Friday. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The firm has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 69.25, a PEG ratio of 1.54 and a beta of 1.66. The firm has a 50-day moving average price of $127.27 and a two-hundred day moving average price of $117.94. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the firm earned $0.25 EPS. NVIDIA’s revenue was up 122.4% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NVDA. DA Davidson restated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Truist Financial raised their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group raised their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Finally, Mizuho lifted their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.07.

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.