Avid Wealth Partners LLC Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Avid Wealth Partners LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 12.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,350 shares of the computer hardware maker’s stock after purchasing an additional 711 shares during the period. NVIDIA accounts for approximately 0.5% of Avid Wealth Partners LLC’s investment portfolio, making the stock its 25th largest holding. Avid Wealth Partners LLC’s holdings in NVIDIA were worth $771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NVDA. University of Texas Texas AM Investment Management Co. increased its holdings in NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after acquiring an additional 107,169 shares in the last quarter. Truepoint Inc. increased its stake in shares of NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares in the last quarter. Blue Square Asset Management LLC lifted its position in shares of NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after acquiring an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management boosted its stake in shares of NVIDIA by 5.1% in the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after acquiring an additional 26,373 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now directly owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This represents a 0.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,391,886 shares of company stock valued at $181,666,050. 4.23% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NVDA stock opened at $140.22 on Thursday. 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 Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The firm has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.18, a PEG ratio of 2.43 and a beta of 1.64. The stock’s 50-day simple moving average is $139.84 and its 200-day simple moving average is $127.62.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s revenue was up 93.6% compared to the same quarter last year. As a group, equities 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 buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

NVDA has been the topic of several recent analyst reports. DA Davidson lifted their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Craig Hallum boosted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Robert W. Baird raised their price objective on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Benchmark raised their price target on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Barclays boosted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.15.

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.