Mather Group LLC. Acquires 149,311 Shares of NVIDIA Co. (NASDAQ:NVDA)

Mather Group LLC. increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 964.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,797 shares of the computer hardware maker’s stock after buying an additional 149,311 shares during the quarter. Mather Group LLC.’s holdings in NVIDIA were worth $20,013,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. City Center Advisors LLC boosted its stake in shares of NVIDIA by 498.9% during the 3rd quarter. City Center Advisors LLC now owns 5,552 shares of the computer hardware maker’s stock worth $674,000 after acquiring an additional 4,625 shares during the last quarter. Kure Advisory LLC increased its stake in shares of NVIDIA by 1.4% in the 3rd quarter. Kure Advisory LLC now owns 6,518 shares of the computer hardware maker’s stock worth $792,000 after purchasing an additional 88 shares in the last quarter. New England Research & Management Inc. bought a new position in NVIDIA in the 3rd quarter worth $681,000. Bank of New Hampshire lifted its position in NVIDIA by 3.5% during the third quarter. Bank of New Hampshire now owns 52,484 shares of the computer hardware maker’s stock valued at $6,374,000 after purchasing an additional 1,759 shares in the last quarter. Finally, Hurlow Wealth Management Group Inc. grew its holdings in NVIDIA by 8.9% during the third quarter. Hurlow Wealth Management Group Inc. now owns 2,848 shares of the computer hardware maker’s stock valued at $346,000 after purchasing an additional 232 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. Craig Hallum lifted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Evercore ISI boosted their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Truist Financial increased their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $148.88 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $148.93. The company has a market capitalization of $3.65 trillion, a price-to-earnings ratio of 69.90, a PEG ratio of 1.43 and a beta of 1.66. The firm’s 50-day moving average is $126.08 and its 200 day moving average is $117.25.

NVIDIA (NASDAQ:NVDA) last issued 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA Company 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.