Eagle Strategies LLC Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Eagle Strategies LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,442 shares of the computer hardware maker’s stock after buying an additional 4,298 shares during the period. NVIDIA comprises about 1.7% of Eagle Strategies LLC’s holdings, making the stock its 16th largest position. Eagle Strategies LLC’s holdings in NVIDIA were worth $9,647,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NVDA. Pensionfund Sabic increased its stake in NVIDIA by 900.0% in the second quarter. Pensionfund Sabic now owns 10,000 shares of the computer hardware maker’s stock valued at $1,235,000 after purchasing an additional 9,000 shares during the last quarter. Waller Financial Planning Group Inc. acquired a new position in shares of NVIDIA in the 2nd quarter valued at $378,000. Red Spruce Capital LLC grew its position in shares of NVIDIA by 917.1% in the 2nd quarter. Red Spruce Capital LLC now owns 17,260 shares of the computer hardware maker’s stock valued at $2,132,000 after buying an additional 15,563 shares during the last quarter. Appleton Partners Inc. MA raised its stake in NVIDIA by 1,631.4% during the 2nd quarter. Appleton Partners Inc. MA now owns 81,012 shares of the computer hardware maker’s stock worth $10,008,000 after acquiring an additional 76,333 shares in the last quarter. Finally, Centre Asset Management LLC lifted its position in NVIDIA by 922.9% in the second quarter. Centre Asset Management LLC now owns 230,385 shares of the computer hardware maker’s stock valued at $28,462,000 after acquiring an additional 207,862 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $135.07 on Wednesday. The stock has a fifty day moving average price of $138.51 and a 200 day moving average price of $126.04. 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 cap of $3.31 trillion, a PE ratio of 53.18, a P/E/G ratio of 2.58 and a beta of 1.63. NVIDIA Co. has a 1 year low of $45.83 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. Sell-side analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. 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 1.57%.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVDA. Craig Hallum raised their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Bank of America restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Raymond James boosted their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Benchmark raised their target price on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Piper Sandler upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. 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 dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $188,359,199 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

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.