Riverstone Advisors LLC Acquires 713 Shares of NVIDIA Co. (NASDAQ:NVDA)

Riverstone Advisors LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 7.4% during the third quarter, Holdings Channel reports. The institutional investor owned 10,411 shares of the computer hardware maker’s stock after buying an additional 713 shares during the quarter. NVIDIA makes up about 0.7% of Riverstone Advisors LLC’s holdings, making the stock its 20th largest position. Riverstone Advisors LLC’s holdings in NVIDIA were worth $1,264,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mayflower Financial Advisors LLC lifted its holdings in NVIDIA by 1.0% during the third quarter. Mayflower Financial Advisors LLC now owns 64,210 shares of the computer hardware maker’s stock worth $7,798,000 after acquiring an additional 628 shares during the period. Legacy Capital Wealth Partners LLC increased its position in shares of NVIDIA by 128.2% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 132,110 shares of the computer hardware maker’s stock valued at $16,043,000 after purchasing an additional 74,225 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of NVIDIA by 14.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 493,098 shares of the computer hardware maker’s stock valued at $59,882,000 after purchasing an additional 62,633 shares during the last quarter. Alan B Lancz & Associates Inc. raised its stake in shares of NVIDIA by 14.0% during the 3rd quarter. Alan B Lancz & Associates Inc. now owns 16,251 shares of the computer hardware maker’s stock worth $1,974,000 after purchasing an additional 2,001 shares during the period. Finally, Eagle Bluffs Wealth Management LLC boosted its holdings in shares of NVIDIA by 1.5% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 71,922 shares of the computer hardware maker’s stock worth $8,735,000 after buying an additional 1,047 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Loop Capital reiterated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Truist Financial upped their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Needham & Company LLC upped their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Robert W. Baird lifted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 0.4 %

NVDA stock opened at $140.22 on Thursday. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The firm has a 50-day simple moving average of $139.84 and a 200-day simple moving average of $127.62. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Equities analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed 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 yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA announced that its board has initiated 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction dated 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 transaction, 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. Insiders have sold 1,391,886 shares of company stock valued at $181,666,050 over the last ninety days. Company insiders own 4.23% of the company’s stock.

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.