Sax Wealth Advisors LLC Has $5.46 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Sax Wealth Advisors LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 15.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 44,980 shares of the computer hardware maker’s stock after acquiring an additional 6,167 shares during the period. NVIDIA comprises 0.5% of Sax Wealth Advisors LLC’s holdings, making the stock its 29th biggest position. Sax Wealth Advisors LLC’s holdings in NVIDIA were worth $5,462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. BCS Wealth Management raised its stake in NVIDIA by 85.6% in the 3rd quarter. BCS Wealth Management now owns 19,420 shares of the computer hardware maker’s stock worth $2,358,000 after purchasing an additional 8,959 shares in the last quarter. Madrona Financial Services LLC raised its position in shares of NVIDIA by 5.3% in the 3rd quarter. Madrona Financial Services LLC now owns 10,285 shares of the computer hardware maker’s stock valued at $1,249,000 after buying an additional 518 shares in the last quarter. RFG Advisory LLC raised its position in shares of NVIDIA by 18.3% in the 3rd quarter. RFG Advisory LLC now owns 184,964 shares of the computer hardware maker’s stock valued at $22,462,000 after buying an additional 28,670 shares in the last quarter. LexAurum Advisors LLC raised its position in shares of NVIDIA by 2.1% in the 3rd quarter. LexAurum Advisors LLC now owns 54,069 shares of the computer hardware maker’s stock valued at $6,566,000 after buying an additional 1,106 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. raised its position in shares of NVIDIA by 265.2% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 8,541 shares of the computer hardware maker’s stock valued at $1,037,000 after buying an additional 6,202 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NVDA. UBS Group boosted their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Oppenheimer restated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday. Melius Research boosted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Evercore ISI upped their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Mizuho upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Down 3.2 %

Shares of NASDAQ NVDA opened at $141.95 on Friday. The firm has a market cap of $3.48 trillion, a PE ratio of 66.58, a P/E/G ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The company’s fifty day simple moving average is $134.01 and its 200 day simple moving average is $122.06. 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 issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. NVIDIA’s revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. The trade was a 0.16 % 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. 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.