First Horizon Advisors Inc. Has $9.86 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

First Horizon Advisors Inc. increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.0% during the third quarter, Holdings Channel reports. The fund owned 81,217 shares of the computer hardware maker’s stock after acquiring an additional 2,374 shares during the quarter. First Horizon Advisors Inc.’s holdings in NVIDIA were worth $9,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lantz Financial LLC grew its position in shares of NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after purchasing an additional 36,774 shares in the last quarter. Ironwood Wealth Management LLC. grew its stake in shares of NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after buying an additional 5,695 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in NVIDIA in the second quarter valued at about $1,252,000. Focus Financial Network Inc. grew its holdings in NVIDIA by 1,026.3% during the 2nd quarter. Focus Financial Network Inc. now owns 1,812,060 shares of the computer hardware maker’s stock worth $213,805,000 after acquiring an additional 1,651,175 shares during the last quarter. Finally, Horizons Wealth Management raised its position in NVIDIA by 842.9% during the 2nd quarter. Horizons Wealth Management now owns 1,320 shares of the computer hardware maker’s stock worth $156,000 after purchasing an additional 1,180 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 3.4 %

NVIDIA stock opened at $149.43 on Tuesday. The firm’s fifty day moving average price is $139.75 and its 200-day moving average price is $128.28. The stock has a market cap of $3.66 trillion, a P/E ratio of 58.81, a PEG ratio of 2.43 and a beta of 1.64. 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 $49.48 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating 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 company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were 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 was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,226,886 shares of company stock worth $161,499,400. 4.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research analyst reports. Wedbush upped their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. William Blair assumed coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, 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. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus 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.