Smith Group Asset Management LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Smith Group Asset Management LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 23.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 62,190 shares of the computer hardware maker’s stock after acquiring an additional 11,670 shares during the period. Smith Group Asset Management LLC’s holdings in NVIDIA were worth $7,552,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NVDA. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the period. CGC Financial Services LLC acquired a new stake in NVIDIA in the 2nd quarter worth about $26,000. Quest Partners LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $27,000. Finally, Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA during the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on 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 directly owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total value of $13,419,600.00. Following the transaction, the chief executive officer now owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,676,986 shares of company stock worth $201,778,799 in the last ninety days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $138.81 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 54.65, a PEG ratio of 2.58 and a beta of 1.63. NVIDIA Co. has a one year low of $45.83 and a one year high of $152.89. The company’s 50-day simple moving average is $138.51 and its 200-day simple moving average is $126.04.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

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 issued a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Wall Street Analyst Weigh In

NVDA has been the topic of several research analyst reports. DA Davidson raised their target price on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Wedbush increased their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. HSBC boosted their price target on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Redburn Atlantic started coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.