Smith Anglin Financial LLC Buys 1,675 Shares of NVIDIA Co. (NASDAQ:NVDA)

Smith Anglin Financial LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 70,964 shares of the computer hardware maker’s stock after buying an additional 1,675 shares during the period. NVIDIA makes up approximately 0.8% of Smith Anglin Financial LLC’s investment portfolio, making the stock its 20th biggest position. Smith Anglin Financial LLC’s holdings in NVIDIA were worth $8,618,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Diversified Trust Co boosted its stake in NVIDIA by 1.5% during the third quarter. Diversified Trust Co now owns 633,263 shares of the computer hardware maker’s stock valued at $76,903,000 after buying an additional 9,455 shares during the period. Cora Capital Advisors LLC boosted its stake in NVIDIA by 4.3% during the third quarter. Cora Capital Advisors LLC now owns 10,975 shares of the computer hardware maker’s stock valued at $1,333,000 after buying an additional 448 shares during the period. WealthBridge Capital Management LLC boosted its stake in NVIDIA by 19.4% during the third quarter. WealthBridge Capital Management LLC now owns 53,266 shares of the computer hardware maker’s stock valued at $6,469,000 after buying an additional 8,637 shares during the period. GAMMA Investing LLC raised its position in NVIDIA by 24.3% during the third quarter. GAMMA Investing LLC now owns 355,709 shares of the computer hardware maker’s stock valued at $43,197,000 after purchasing an additional 69,642 shares in the last quarter. Finally, waypoint wealth counsel raised its position in NVIDIA by 15.9% during the third quarter. waypoint wealth counsel now owns 20,830 shares of the computer hardware maker’s stock valued at $2,530,000 after purchasing an additional 2,852 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NVDA shares. Sanford C. Bernstein raised their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Loop Capital restated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Evercore ISI raised their price target on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, DA Davidson restated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Performance

NVIDIA stock opened at $145.61 on Thursday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.57 trillion, a P/E ratio of 68.36, a PEG ratio of 1.43 and a beta of 1.66. The stock’s 50 day moving average is $126.08 and its 200 day moving average is $117.25. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $146.49.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. On average, equities research analysts predict that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,276,270 shares of company stock worth $267,363,927 in the last 90 days. 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.