NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Smith Salley Wealth Management

Smith Salley Wealth Management grew its position in NVIDIA Co. (NASDAQ:NVDA) by 3.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 634,769 shares of the computer hardware maker’s stock after acquiring an additional 22,194 shares during the period. NVIDIA accounts for approximately 5.0% of Smith Salley Wealth Management’s investment portfolio, making the stock its 3rd biggest position. Smith Salley Wealth Management’s holdings in NVIDIA were worth $77,086,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its stake in shares of NVIDIA by 52.2% in the first 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 buying an additional 13,135 shares during the period. Levin Capital Strategies L.P. grew its holdings in NVIDIA by 8.1% during the 1st quarter. Levin Capital Strategies L.P. now owns 1,281 shares of the computer hardware maker’s stock worth $1,158,000 after acquiring an additional 96 shares during the last quarter. Innova Wealth Partners acquired a new position in NVIDIA in the 1st quarter valued at approximately $374,000. Sugar Maple Asset Management LLC bought a new position in shares of NVIDIA during the first quarter valued at $898,000. Finally, California State Teachers Retirement System lifted its holdings in shares of NVIDIA by 0.8% during the first quarter. California State Teachers Retirement System now owns 3,979,207 shares of the computer hardware maker’s stock worth $3,595,452,000 after purchasing an additional 30,671 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 1.8 %

NVDA stock opened at $142.44 on Friday. The stock’s 50 day moving average is $137.74 and its 200-day moving average is $125.04. NVIDIA Co. has a twelve month low of $45.60 and a twelve month high of $152.89. The firm has a market capitalization of $3.49 trillion, a PE ratio of 56.08, a P/E/G ratio of 2.54 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 EPS. Sell-side analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes 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 leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend 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 business’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 transaction, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s 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 sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,796,986 shares of company stock worth $214,418,399 in the last 90 days. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several analyst reports. Sanford C. Bernstein raised their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Westpark Capital raised their price objective 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. Robert W. Baird raised their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, HSBC boosted their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target 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.