Shira Ridge Wealth Management Has $658,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Shira Ridge Wealth Management increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,416 shares of the computer hardware maker’s stock after purchasing an additional 100 shares during the quarter. Shira Ridge Wealth Management’s holdings in NVIDIA were worth $658,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the first quarter valued at approximately $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research analyst reports. Piper Sandler raised their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. DA Davidson reissued a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Wedbush restated an “outperform” rating and set a $160.00 price objective (up from $138.00) on shares of NVIDIA in a research report on Thursday. Oppenheimer upped their target price on NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Benchmark restated a “buy” rating and set a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $152.40.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last three months. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $141.98 on Friday. The company has a market cap of $3.48 trillion, a P/E ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a 50-day moving average of $130.18 and a 200-day moving average of $119.70. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77.

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

NVIDIA Cuts Dividend

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

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

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.