Cohen Capital Management Inc. Acquires 1,640 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cohen Capital Management Inc. lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 94.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,370 shares of the computer hardware maker’s stock after purchasing an additional 1,640 shares during the quarter. Cohen Capital Management Inc.’s holdings in NVIDIA were worth $409,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lantz Financial LLC grew its holdings in NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after acquiring an additional 36,774 shares during the period. Tilia Fiduciary Partners Inc. lifted its stake in NVIDIA by 832.0% in the second quarter. Tilia Fiduciary Partners Inc. now owns 5,266 shares of the computer hardware maker’s stock valued at $651,000 after buying an additional 4,701 shares during the period. Twele Capital Management Inc. boosted its holdings in NVIDIA by 566.8% during the second quarter. Twele Capital Management Inc. now owns 2,667 shares of the computer hardware maker’s stock worth $330,000 after buying an additional 2,267 shares during the last quarter. jvl associates llc boosted its holdings in NVIDIA by 897.8% during the second quarter. jvl associates llc now owns 9,130 shares of the computer hardware maker’s stock worth $1,128,000 after buying an additional 8,215 shares during the last quarter. Finally, Amarillo National Bank grew its position in shares of NVIDIA by 973.1% during the 2nd quarter. Amarillo National Bank now owns 9,164 shares of the computer hardware maker’s stock worth $1,132,000 after buying an additional 8,310 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,628,156 shares of company stock valued at $197,995,077. 4.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Truist Financial raised their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Raymond James boosted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Piper Sandler boosted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Four 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Down 1.2 %

Shares of NASDAQ NVDA opened at $130.39 on Wednesday. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.19 trillion, a PE ratio of 51.33, a P/E/G ratio of 2.43 and a beta of 1.63. The company’s fifty day simple moving average is $139.79 and its 200 day simple moving average is $127.07.

NVIDIA (NASDAQ:NVDA) last announced 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

NVIDIA Announces Dividend

The firm also recently announced 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 is presently 1.57%.

NVIDIA 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.