Argent Capital Management LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Argent Capital Management LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,008.7% during the 3rd quarter, Holdings Channel reports. The fund owned 738,958 shares of the computer hardware maker’s stock after acquiring an additional 672,308 shares during the period. NVIDIA comprises about 2.5% of Argent Capital Management LLC’s portfolio, making the stock its 13th biggest position. Argent Capital Management LLC’s holdings in NVIDIA were worth $89,739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mason & Associates Inc lifted its holdings in NVIDIA by 13.1% in the 3rd quarter. Mason & Associates Inc now owns 37,760 shares of the computer hardware maker’s stock valued at $4,586,000 after purchasing an additional 4,365 shares in the last quarter. Yoder Wealth Management Inc. lifted its holdings in NVIDIA by 10.0% in the 3rd quarter. Yoder Wealth Management Inc. now owns 7,422 shares of the computer hardware maker’s stock valued at $901,000 after purchasing an additional 672 shares in the last quarter. Jackson Wealth Management LLC lifted its holdings in NVIDIA by 259.5% in the 3rd quarter. Jackson Wealth Management LLC now owns 68,698 shares of the computer hardware maker’s stock valued at $8,343,000 after purchasing an additional 49,590 shares in the last quarter. Arcataur Capital Management LLC lifted its holdings in NVIDIA by 1.0% in the 3rd quarter. Arcataur Capital Management LLC now owns 10,380 shares of the computer hardware maker’s stock valued at $1,261,000 after purchasing an additional 100 shares in the last quarter. Finally, Fiduciary Planning LLC lifted its holdings in NVIDIA by 9.5% in the 3rd quarter. Fiduciary Planning LLC now owns 13,360 shares of the computer hardware maker’s stock valued at $1,622,000 after purchasing an additional 1,157 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the transaction, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,916,986 shares of company stock worth $227,311,199 over the last ninety days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Up 1.2 %

NVDA stock opened at $140.26 on Wednesday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. 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 has a market capitalization of $3.43 trillion, a P/E ratio of 55.20, a PEG ratio of 2.51 and a beta of 1.63. The firm has a 50 day simple moving average of $136.89 and a 200-day simple moving average of $124.75.

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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, equities research analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Melius Research upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Morgan Stanley increased their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Evercore ISI increased their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.