Inspirion Wealth Advisors LLC Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Inspirion Wealth Advisors LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 9.4% in the third quarter, Holdings Channel.com reports. The firm owned 9,625 shares of the computer hardware maker’s stock after purchasing an additional 829 shares during the quarter. Inspirion Wealth Advisors LLC’s holdings in NVIDIA were worth $1,169,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Privium Fund Management UK Ltd bought a new stake in NVIDIA in the first quarter worth $2,635,000. Financial Strategies Group Inc. purchased a new position in shares of NVIDIA in the first quarter worth about $268,000. Woodmont Investment Counsel LLC lifted its stake in shares of NVIDIA by 1.8% in the 1st quarter. Woodmont Investment Counsel LLC now owns 1,498 shares of the computer hardware maker’s stock valued at $1,354,000 after acquiring an additional 27 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in NVIDIA by 1.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,603 shares of the computer hardware maker’s stock valued at $1,448,000 after acquiring an additional 26 shares during the period. Finally, Dash Acquisitions Inc. grew its position in NVIDIA by 10.2% during the 1st quarter. Dash Acquisitions Inc. now owns 1,124 shares of the computer hardware maker’s stock worth $945,000 after acquiring an additional 104 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NVDA shares. Sanford C. Bernstein boosted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a report on Monday, August 5th. Mizuho raised their price target on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Craig Hallum increased their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Raymond James boosted their target price on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Price Performance

Shares of NVDA opened at $139.91 on Wednesday. The company has a market capitalization of $3.43 trillion, a P/E ratio of 65.62, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a twelve month low of $44.90 and a twelve month high of $144.42. The firm has a 50 day moving average of $125.68 and a 200 day moving average of $117.05.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the transaction, the director now directly owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,276,270 shares of company stock valued at $267,363,927. 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.