Warner Financial Inc. Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Warner Financial Inc. boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.4% in the third quarter, HoldingsChannel reports. The fund owned 2,845 shares of the computer hardware maker’s stock after acquiring an additional 245 shares during the period. Warner Financial Inc.’s holdings in NVIDIA were worth $345,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NVDA. Legal & General Group Plc raised its holdings in NVIDIA by 884.0% in the second 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 raised its holdings in NVIDIA by 854.1% in the second 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. raised its holdings in NVIDIA by 870.3% in the second 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 raised its holdings in NVIDIA by 1,123.2% in the second 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 raised its holdings in NVIDIA by 808.6% in the second 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 owned by hedge funds and other institutional investors.

NVIDIA Trading Up 2.2 %

Shares of NVDA opened at $138.25 on Friday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The company has a market cap of $3.39 trillion, a P/E ratio of 54.41, a P/E/G 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. The company’s fifty day simple moving average is $136.05 and its 200-day simple moving average is $123.67.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating 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%. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, analysts expect that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a stock 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,036,986 shares of company stock worth $240,602,399. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several research reports. Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Redburn Atlantic initiated coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Wedbush boosted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Truist Financial boosted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA 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.