NVIDIA Co. (NASDAQ:NVDA) is Secure Asset Management LLC’s 3rd Largest Position

Secure Asset Management LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 8.1% in the 3rd quarter, Holdings Channel reports. The firm owned 187,950 shares of the computer hardware maker’s stock after buying an additional 14,156 shares during the period. NVIDIA makes up 3.8% of Secure Asset Management LLC’s holdings, making the stock its 3rd biggest holding. Secure Asset Management LLC’s holdings in NVIDIA were worth $22,825,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its position in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after acquiring an additional 13,135 shares during the period. BCGM Wealth Management LLC increased its position in NVIDIA by 69.9% in the 1st quarter. BCGM Wealth Management LLC now owns 1,402 shares of the computer hardware maker’s stock valued at $1,267,000 after acquiring an additional 577 shares during the period. Montag A & Associates Inc. increased its position in NVIDIA by 19.0% in the 1st quarter. Montag A & Associates Inc. now owns 15,253 shares of the computer hardware maker’s stock valued at $13,782,000 after acquiring an additional 2,438 shares during the period. Atomi Financial Group Inc. increased its position in NVIDIA by 10.6% in the 1st quarter. Atomi Financial Group Inc. now owns 15,652 shares of the computer hardware maker’s stock valued at $14,142,000 after acquiring an additional 1,496 shares during the period. Finally, Keudell Morrison Wealth Management increased its position in NVIDIA by 1.2% in the 1st quarter. Keudell Morrison Wealth Management now owns 2,013 shares of the computer hardware maker’s stock valued at $1,819,000 after acquiring an additional 24 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVDA stock opened at $141.95 on Friday. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89. The stock has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 66.58, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $134.01 and its 200-day simple moving average is $122.06.

NVIDIA (NASDAQ:NVDA) last issued its 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 113.50% and a net margin of 55.04%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. Equities research analysts expect that NVIDIA Co. will post 2.68 EPS for the current year.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.88%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the transaction, the chief executive officer now owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value 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. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Monday, November 18th. Loop Capital reiterated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday. TD Cowen boosted their target price on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird boosted their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.