NVIDIA Co. (NASDAQ:NVDA) is Mainstay Capital Management LLC ADV’s 10th Largest Position

Mainstay Capital Management LLC ADV increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,090 shares of the computer hardware maker’s stock after purchasing an additional 3,650 shares during the quarter. NVIDIA makes up approximately 0.6% of Mainstay Capital Management LLC ADV’s portfolio, making the stock its 10th biggest position. Mainstay Capital Management LLC ADV’s holdings in NVIDIA were worth $3,411,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. lifted its position in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after acquiring an additional 107,169 shares in the last quarter. Truepoint Inc. lifted its holdings in shares of NVIDIA by 914.1% in the 2nd 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 during the last quarter. Westwood Holdings Group Inc. increased its position in NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after acquiring an additional 208,362 shares during the period. Narwhal Capital Management boosted its stake in shares of 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 acquiring an additional 26,373 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of 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 period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Bank of America restated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their price target on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. UBS Group raised their price objective on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Finally, HSBC lifted their price target on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,916,986 shares of company stock worth $227,311,199 over the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $140.26 on Wednesday. The business’s 50-day simple moving average is $136.89 and its 200-day simple moving average is $124.75. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.20, a P/E/G ratio of 2.51 and a beta of 1.63. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $0.38 EPS. As a group, equities research analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.