NVIDIA Co. (NASDAQ:NVDA) Holdings Boosted by New World Advisors LLC

New World Advisors LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 21.9% during the third quarter, HoldingsChannel.com reports. The fund owned 7,290 shares of the computer hardware maker’s stock after acquiring an additional 1,310 shares during the period. NVIDIA accounts for about 0.2% of New World Advisors LLC’s portfolio, making the stock its 13th biggest position. New World Advisors LLC’s holdings in NVIDIA were worth $885,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Graham Capital Wealth Management LLC bought a new stake in shares of NVIDIA during the third quarter valued at approximately $230,000. Sterling Investment Advisors Ltd. raised its holdings in shares of NVIDIA by 3.3% during the third quarter. Sterling Investment Advisors Ltd. now owns 75,062 shares of the computer hardware maker’s stock valued at $9,115,000 after buying an additional 2,419 shares during the last quarter. OMNI 360 Wealth Inc. raised its holdings in shares of NVIDIA by 125.1% during the third quarter. OMNI 360 Wealth Inc. now owns 16,170 shares of the computer hardware maker’s stock valued at $1,964,000 after buying an additional 8,988 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of NVIDIA by 12.8% during the third quarter. J.W. Cole Advisors Inc. now owns 446,461 shares of the computer hardware maker’s stock valued at $54,218,000 after buying an additional 50,829 shares during the last quarter. Finally, Ellis Investment Partners LLC raised its holdings in shares of NVIDIA by 9.4% during the third quarter. Ellis Investment Partners LLC now owns 9,173 shares of the computer hardware maker’s stock valued at $1,114,000 after buying an additional 785 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were 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 owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,796,986 shares of company stock valued at $214,418,399. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 1.8 %

Shares of NASDAQ:NVDA opened at $142.44 on Friday. The firm has a fifty day moving average of $138.16 and a two-hundred day moving average of $125.58. The firm has a market capitalization of $3.49 trillion, a P/E ratio of 56.06, a price-to-earnings-growth ratio of 2.62 and a beta of 1.63. NVIDIA Co. has a 12-month low of $45.60 and a 12-month high of $152.89. 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 issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during 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%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. On average, equities analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA declared that its board has initiated 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NVDA shares. Piper Sandler lifted their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Barclays boosted their target price on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Wedbush boosted their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Morgan Stanley boosted their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Sanford C. Bernstein boosted their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Four investment 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. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

About NVIDIA

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.