Argonautica Private Wealth Management Inc. Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Argonautica Private Wealth Management Inc. boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,499 shares of the computer hardware maker’s stock after buying an additional 612 shares during the period. NVIDIA makes up about 3.8% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 4th largest position. Argonautica Private Wealth Management Inc.’s holdings in NVIDIA were worth $11,476,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. DHJJ Financial Advisors Ltd. raised its holdings 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 last quarter. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter worth $26,000. Quest Partners LLC acquired a new position in NVIDIA during the second quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the third quarter valued at about $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of NVIDIA in the second quarter valued at about $31,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,628,156 shares of company stock worth $197,995,077. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several analyst reports. Robert W. Baird increased their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. The Goldman Sachs Group increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. DA Davidson raised their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus raised their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

Shares of NVDA stock opened at $134.25 on Monday. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The company’s 50-day moving average is $139.76 and its 200 day moving average is $126.77. The company has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm posted $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA announced that its board has approved 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are 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 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

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.