Montz Harcus Wealth Management LLC Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

Montz Harcus Wealth Management LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,886 shares of the computer hardware maker’s stock after acquiring an additional 262 shares during the quarter. NVIDIA comprises 1.3% of Montz Harcus Wealth Management LLC’s holdings, making the stock its 15th largest position. Montz Harcus Wealth Management LLC’s holdings in NVIDIA were worth $2,172,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in NVIDIA by 884.0% during 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. Bank of New York Mellon Corp raised its position in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on NVDA shares. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Barclays raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Mizuho raised their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Melius Research raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. 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, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Trading Down 1.8 %

NASDAQ:NVDA opened at $142.44 on Friday. The stock has a fifty day moving average price of $138.16 and a two-hundred day moving average price of $125.58. The stock has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 56.06, a PEG ratio of 2.62 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 Co. has a 1 year low of $45.60 and a 1 year high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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. The business had revenue of $35.08 billion during 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%. The business’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA declared that its board has approved a stock repurchase 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the business’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 sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,796,986 shares of company stock worth $214,418,399. 4.23% of the stock is owned by corporate insiders.

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.