AM Investment Strategies LLC Purchases 6,483 Shares of NVIDIA Co. (NASDAQ:NVDA)

AM Investment Strategies LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 24.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,894 shares of the computer hardware maker’s stock after purchasing an additional 6,483 shares during the quarter. NVIDIA accounts for about 1.0% of AM Investment Strategies LLC’s holdings, making the stock its 19th biggest holding. AM Investment Strategies LLC’s holdings in NVIDIA were worth $4,006,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Legal & General Group Plc raised its position in shares of NVIDIA by 884.0% during the second 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 during the last quarter. Bank of New York Mellon Corp raised its position in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring 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% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring 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% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $134.25 on Monday. The business’s fifty day simple moving average is $139.76 and its 200 day simple moving average is $126.77. The firm has a market capitalization of $3.29 trillion, a P/E ratio of 52.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.64 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 the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.38 earnings per share. As a group, analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its board has initiated a share repurchase plan 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement

The company 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 $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,156 shares of company stock worth $197,995,077 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of analyst reports. Wedbush raised their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Redburn Atlantic started coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. Evercore ISI lifted their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Piper Sandler lifted their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report 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 given a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.15.

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.