NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Sterling Financial Group Inc.

Sterling Financial Group Inc. lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.9% during the third quarter, HoldingsChannel reports. The firm owned 15,225 shares of the computer hardware maker’s stock after purchasing an additional 285 shares during the quarter. NVIDIA comprises about 0.8% of Sterling Financial Group Inc.’s holdings, making the stock its 16th largest holding. Sterling Financial Group Inc.’s holdings in NVIDIA were worth $1,849,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. raised its stake in NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after acquiring an additional 13,135 shares in the last quarter. Vaughan David Investments LLC IL raised its position in shares of NVIDIA by 27.3% during the first quarter. Vaughan David Investments LLC IL now owns 1,286 shares of the computer hardware maker’s stock worth $1,162,000 after purchasing an additional 276 shares during the period. Saturna Capital Corp lifted its holdings in shares of NVIDIA by 279.4% during the first quarter. Saturna Capital Corp now owns 163,332 shares of the computer hardware maker’s stock valued at $147,580,000 after purchasing an additional 120,285 shares during the last quarter. Owen LaRue LLC boosted its position in shares of NVIDIA by 1.7% in the 1st quarter. Owen LaRue LLC now owns 6,074 shares of the computer hardware maker’s stock valued at $5,488,000 after purchasing an additional 104 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in NVIDIA by 62.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 324,011 shares of the computer hardware maker’s stock worth $292,763,000 after purchasing an additional 124,973 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $138.25 on Monday. The firm has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 54.43, a PEG ratio of 2.50 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89. The business has a fifty day simple moving average of $136.05 and a 200 day simple moving average of $124.11. 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 (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its board has authorized a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is 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 dividend payout ratio is currently 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,036,986 shares of company stock valued at $240,602,399. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. 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 note on Monday, November 11th. Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Stifel Nicolaus upped their target price on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Wedbush raised their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four equities research 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.15.

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.