Paragon Capital Management LLC Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Paragon Capital Management LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 23.7% during the third quarter, Holdings Channel reports. The fund owned 2,592 shares of the computer hardware maker’s stock after purchasing an additional 497 shares during the period. Paragon Capital Management LLC’s holdings in NVIDIA were worth $315,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NVDA. CGC Financial Services LLC purchased a new position in NVIDIA during the second quarter valued at $26,000. Quest Partners LLC bought a new position in shares of NVIDIA in the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the second quarter worth about $31,000. Finally, FPC Investment Advisory Inc. boosted its stake in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after acquiring an additional 261 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,351,886 shares of company stock worth $176,825,650. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $139.93 on Friday. NVIDIA Co. has a 52 week low of $47.32 and a 52 week 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 stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.07, a PEG ratio of 2.43 and a beta of 1.64. The business has a 50-day simple moving average of $139.99 and a two-hundred day simple moving average of $127.80.

NVIDIA (NASDAQ:NVDA) last released its 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. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. On average, analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The company 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wedbush lifted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. HSBC increased their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. lifted their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Robert W. Baird increased their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price 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.