Litman Gregory Wealth Management LLC Purchases New Holdings in NVIDIA Co. (NASDAQ:NVDA)

Litman Gregory Wealth Management LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, Holdings Channel reports. The firm acquired 2,685 shares of the computer hardware maker’s stock, valued at approximately $326,000.

Other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. increased its position in shares of NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Truepoint Inc. grew its stake in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after buying an additional 208,362 shares in the last quarter. Narwhal Capital Management lifted its holdings in NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares during the last quarter. Finally, Legal & General Group Plc grew 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 acquiring an additional 191,469,114 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Up 2.2 %

NVIDIA stock opened at $138.25 on Monday. The company has a 50 day moving average price of $136.05 and a 200 day moving average price of $124.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The firm has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 54.43, a P/E/G ratio of 2.50 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. Research analysts forecast that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

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 given 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 is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA announced that its board has approved a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVDA. Truist Financial raised their price objective on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Barclays lifted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Robert W. Baird raised their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The stock was 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 directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,036,986 shares of company stock worth $240,602,399. 4.23% of the stock is owned by company insiders.

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.