NVIDIA Co. (NASDAQ:NVDA) Shares Bought by CRA Financial Services LLC

CRA Financial Services LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.3% during the third quarter, Holdings Channel reports. The fund owned 110,571 shares of the computer hardware maker’s stock after purchasing an additional 8,506 shares during the quarter. NVIDIA comprises 2.5% of CRA Financial Services LLC’s portfolio, making the stock its 11th biggest holding. CRA Financial Services LLC’s holdings in NVIDIA were worth $13,428,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. HCR Wealth Advisors lifted its holdings in NVIDIA by 9.3% in the 3rd quarter. HCR Wealth Advisors now owns 264,764 shares of the computer hardware maker’s stock valued at $32,153,000 after purchasing an additional 22,612 shares in the last quarter. Avondale Wealth Management lifted its stake in shares of NVIDIA by 1.6% during the third quarter. Avondale Wealth Management now owns 20,205 shares of the computer hardware maker’s stock valued at $2,454,000 after buying an additional 325 shares during the period. Burns Matteson Capital Management LLC lifted its stake in shares of NVIDIA by 27.1% during the third quarter. Burns Matteson Capital Management LLC now owns 20,420 shares of the computer hardware maker’s stock valued at $2,480,000 after buying an additional 4,351 shares during the period. Code Waechter LLC acquired a new stake in NVIDIA during the third quarter worth approximately $747,000. Finally, McNamara Financial Services Inc. acquired a new position in NVIDIA in the 3rd quarter valued at $2,004,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $146.76 on Friday. The firm has a market cap of $3.60 trillion, a price-to-earnings ratio of 68.84, a PEG ratio of 1.56 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. The business’s 50 day moving average is $129.39 and its two-hundred day moving average is $119.51. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77.

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

NVIDIA declared that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently declared 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 payout ratio is 1.88%.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA 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 completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several analyst reports. Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Redburn Atlantic began coverage on NVIDIA in a report on Tuesday. They issued a “buy” rating and a $178.00 price target for the company. Sanford C. Bernstein upped their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Raymond James raised their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Finally, Melius Research upped their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $152.40.

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.