Thurston Springer Miller Herd & Titak Inc. Buys 30,085 Shares of NVIDIA Co. (NASDAQ:NVDA)

Thurston Springer Miller Herd & Titak Inc. grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 44.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,460 shares of the computer hardware maker’s stock after buying an additional 30,085 shares during the quarter. NVIDIA accounts for about 3.3% of Thurston Springer Miller Herd & Titak Inc.’s investment portfolio, making the stock its 3rd biggest holding. Thurston Springer Miller Herd & Titak Inc.’s holdings in NVIDIA were worth $11,957,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. Oliver Luxxe Assets LLC boosted its stake in NVIDIA by 6.6% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 2,345 shares of the computer hardware maker’s stock worth $285,000 after purchasing an additional 145 shares during the period. Smith Chas P & Associates PA Cpas lifted its holdings in shares of NVIDIA by 15.3% in the third quarter. Smith Chas P & Associates PA Cpas now owns 19,392 shares of the computer hardware maker’s stock valued at $2,355,000 after purchasing an additional 2,566 shares in the last quarter. Thomasville National Bank grew its holdings in shares of NVIDIA by 432.3% during the third quarter. Thomasville National Bank now owns 83,923 shares of the computer hardware maker’s stock worth $10,192,000 after buying an additional 68,158 shares in the last quarter. Willis Investment Counsel grew its holdings in shares of NVIDIA by 19.6% during the third quarter. Willis Investment Counsel now owns 148,192 shares of the computer hardware maker’s stock worth $17,996,000 after buying an additional 24,282 shares in the last quarter. Finally, Affiance Financial LLC raised its position in NVIDIA by 8.1% in the 3rd quarter. Affiance Financial LLC now owns 12,716 shares of the computer hardware maker’s stock valued at $1,544,000 after buying an additional 956 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVDA. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. Craig Hallum increased their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. William Blair initiated coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Sanford C. Bernstein increased their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Trading Down 3.3 %

Shares of NVIDIA stock opened at $141.98 on Friday. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The stock has a market cap of $3.48 trillion, a PE ratio of 66.66, a PEG ratio of 1.54 and a beta of 1.66. The firm has a 50-day moving average of $130.97 and a 200-day moving average of $120.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (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 firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.66 EPS for the current 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 paid 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 yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 in the last three months. Corporate insiders own 4.23% of the company’s stock.

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.