NVIDIA Co. (NASDAQ:NVDA) Position Lifted by WT Wealth Management

WT Wealth Management raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 48.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,460 shares of the computer hardware maker’s stock after acquiring an additional 16,480 shares during the quarter. NVIDIA makes up 1.5% of WT Wealth Management’s portfolio, making the stock its 17th biggest position. WT Wealth Management’s holdings in NVIDIA were worth $6,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of NVDA. Legal & General Group Plc lifted its position in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s 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 sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,036,986 shares of company stock worth $240,602,399 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 2.2 %

Shares of NVIDIA stock opened at $138.25 on Friday. The company’s fifty day simple moving average is $136.05 and its 200-day simple moving average is $123.67. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 54.41, a PEG ratio of 2.45 and a beta of 1.66. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. As a group, sell-side analysts expect that NVIDIA Co. will post 2.76 EPS for the current year.

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 outstanding 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 generally a sign that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVDA. DA Davidson increased their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Piper Sandler raised their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Bank of America reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Needham & Company LLC raised their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Westpark Capital raised their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Four investment 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 stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

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.