True Wealth Design LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

True Wealth Design LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 74.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,085 shares of the computer hardware maker’s stock after purchasing an additional 1,320 shares during the period. NVIDIA comprises approximately 0.1% of True Wealth Design LLC’s holdings, making the stock its 20th largest position. True Wealth Design LLC’s holdings in NVIDIA were worth $375,000 at the end of the most recent quarter.

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

Insider Buying and Selling at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The shares were 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 of the company’s stock, valued at approximately $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. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last ninety days. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NVDA shares. Wells Fargo & Company raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Citigroup lifted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research report on Wednesday, January 8th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Finally, Robert W. Baird boosted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.27.

NVIDIA Trading Down 1.1 %

NVIDIA stock opened at $131.76 on Wednesday. NVIDIA Co. has a 12-month low of $54.74 and a 12-month high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $3.23 trillion, a PE ratio of 51.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The firm has a 50 day simple moving average of $139.68 and a 200-day simple moving average of $128.82.

NVIDIA (NASDAQ:NVDA) last announced its 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 company 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%. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. As a group, equities research analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

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.