EverSource Wealth Advisors LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

EverSource Wealth Advisors LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 165,700 shares of the computer hardware maker’s stock after purchasing an additional 3,603 shares during the period. NVIDIA comprises 1.3% of EverSource Wealth Advisors LLC’s investment portfolio, making the stock its 13th biggest position. EverSource Wealth Advisors LLC’s holdings in NVIDIA were worth $20,123,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA in the 3rd quarter valued at about $27,000. Quest Partners LLC purchased a new position in NVIDIA in the 2nd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the 2nd quarter worth approximately $31,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA during the third quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $149.43 on Tuesday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.66 trillion, a P/E ratio of 58.81, a P/E/G ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a twelve month low of $49.48 and a twelve month high of $152.89. The stock has a 50 day moving average of $139.75 and a two-hundred day moving average of $128.28.

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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. During the same period in the previous year, the business posted $0.38 earnings per share. The business’s revenue was up 93.6% compared to the same quarter last year. On average, research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NVDA shares. HSBC boosted their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Bank of America restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Mizuho increased their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. DA Davidson lifted their price target 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. Finally, Wells Fargo & Company boosted their target price on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Buying and Selling at NVIDIA

In other news, 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 value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,226,886 shares of company stock valued at $161,499,400. Insiders own 4.23% of the company’s stock.

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.