Moss Adams Wealth Advisors LLC Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Moss Adams Wealth Advisors LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 26.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,613 shares of the computer hardware maker’s stock after buying an additional 12,025 shares during the quarter. NVIDIA comprises approximately 0.8% of Moss Adams Wealth Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Moss Adams Wealth Advisors LLC’s holdings in NVIDIA were worth $6,997,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NVDA. Generate Investment Management Ltd boosted its position in NVIDIA by 30.8% in the third quarter. Generate Investment Management Ltd now owns 766,010 shares of the computer hardware maker’s stock valued at $93,020,000 after buying an additional 180,401 shares during the last quarter. JTC Employer Solutions Trustee Ltd lifted its stake in NVIDIA by 1.9% during the 3rd quarter. JTC Employer Solutions Trustee Ltd now owns 152,597 shares of the computer hardware maker’s stock valued at $18,538,000 after acquiring an additional 2,830 shares during the period. Net Worth Advisory Group purchased a new position in shares of NVIDIA during the third quarter worth $4,663,000. Stratos Investment Management LLC lifted its position in NVIDIA by 56.9% during the third quarter. Stratos Investment Management LLC now owns 133,350 shares of the computer hardware maker’s stock valued at $16,194,000 after purchasing an additional 48,335 shares during the period. Finally, Stratos Wealth Advisors LLC boosted its holdings in NVIDIA by 1.0% in the third quarter. Stratos Wealth Advisors LLC now owns 343,398 shares of the computer hardware maker’s stock valued at $41,702,000 after purchasing an additional 3,330 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares in the company, valued at $1,014,077,958.17. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Stifel Nicolaus upped their price objective on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday. Finally, Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Trading Down 3.2 %

Shares of NASDAQ NVDA opened at $141.95 on Friday. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89. The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 55.89, a P/E/G ratio of 1.53 and a beta of 1.66. The business has a fifty day simple moving average of $134.01 and a 200-day simple moving average of $122.28.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the company posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. Sell-side analysts predict that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA announced that its board has approved a share buyback program 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Announces Dividend

The company also recently declared 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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.