GGM Financials LLC Increases Position in NVIDIA Co. (NASDAQ:NVDA)

GGM Financials LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.2% in the third quarter, HoldingsChannel reports. The firm owned 11,116 shares of the computer hardware maker’s stock after buying an additional 1,208 shares during the period. NVIDIA makes up approximately 1.2% of GGM Financials LLC’s investment portfolio, making the stock its 15th largest position. GGM Financials LLC’s holdings in NVIDIA were worth $1,350,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in NVIDIA by 870.3% in 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 purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP increased 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 purchasing an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $134.70 on Friday. 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 capitalization of $3.30 trillion, a PE ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The company has a fifty day moving average of $139.63 and a two-hundred day moving average of $127.32.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the sale, the director now owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This trade represents a 0.48 % 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 $201,687,727. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NVDA shares. Redburn Atlantic assumed coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Wedbush boosted their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Truist Financial increased their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Mizuho boosted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Phillip Securities restated an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Four investment 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, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.