Walter & Keenan Wealth Management LLC IN ADV Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Walter & Keenan Wealth Management LLC IN ADV lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,417 shares of the computer hardware maker’s stock after purchasing an additional 117 shares during the period. NVIDIA comprises 1.1% of Walter & Keenan Wealth Management LLC IN ADV’s investment portfolio, making the stock its 22nd biggest position. Walter & Keenan Wealth Management LLC IN ADV’s holdings in NVIDIA were worth $3,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Pensionfund Sabic boosted its stake in NVIDIA by 900.0% during the 2nd quarter. Pensionfund Sabic now owns 10,000 shares of the computer hardware maker’s stock worth $1,235,000 after purchasing an additional 9,000 shares during the last quarter. Waller Financial Planning Group Inc. purchased a new position in shares of NVIDIA in the second quarter worth about $378,000. Red Spruce Capital LLC boosted its position in NVIDIA by 917.1% during the second quarter. Red Spruce Capital LLC now owns 17,260 shares of the computer hardware maker’s stock worth $2,132,000 after acquiring an additional 15,563 shares during the last quarter. Appleton Partners Inc. MA grew 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 valued at $10,008,000 after acquiring an additional 76,333 shares in the last quarter. Finally, Centre Asset Management LLC raised its holdings in NVIDIA by 922.9% in the 2nd 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. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Monday, November 18th. Barclays upped their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Truist Financial lifted their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Needham & Company LLC upped their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Evercore ISI lifted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of NVIDIA 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 sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,556,986 shares of company stock valued at $188,359,199. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 2.7 %

Shares of NASDAQ:NVDA opened at $135.07 on Wednesday. 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 Co. has a fifty-two week low of $45.83 and a fifty-two week high of $152.89. The stock has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.18, a price-to-earnings-growth ratio of 2.58 and a beta of 1.63. The firm’s 50 day moving average price is $138.51 and its 200 day moving average price is $126.04.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for 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 was up 93.6% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. As a group, equities research analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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 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%.

NVIDIA declared that its board has initiated a share repurchase program 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 buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.