Matrix Asset Advisors Inc. NY Buys 107 Shares of NVIDIA Co. (NASDAQ:NVDA)

Matrix Asset Advisors Inc. NY lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,807 shares of the computer hardware maker’s stock after buying an additional 107 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in NVIDIA were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. Mechanics Bank Trust Department grew its stake in NVIDIA by 4.7% in the third quarter. Mechanics Bank Trust Department now owns 89,507 shares of the computer hardware maker’s stock worth $10,870,000 after purchasing an additional 4,055 shares during the period. Montis Financial LLC grew its position in shares of NVIDIA by 6.2% in the 3rd quarter. Montis Financial LLC now owns 6,502 shares of the computer hardware maker’s stock worth $790,000 after buying an additional 377 shares during the period. Brown Miller Wealth Management LLC increased its stake in shares of NVIDIA by 0.4% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 282,662 shares of the computer hardware maker’s stock worth $34,326,000 after acquiring an additional 1,114 shares in the last quarter. CRA Financial Services LLC lifted its position in NVIDIA by 8.3% during the 3rd quarter. CRA Financial Services LLC now owns 110,571 shares of the computer hardware maker’s stock valued at $13,428,000 after acquiring an additional 8,506 shares during the period. Finally, HCR Wealth Advisors boosted its stake in NVIDIA by 9.3% during the third quarter. HCR Wealth Advisors now owns 264,764 shares of the computer hardware maker’s stock worth $32,153,000 after acquiring an additional 22,612 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on 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 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 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s 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 transaction, the director now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on NVDA. Wedbush reiterated an “outperform” rating and set a $160.00 target price (up from $138.00) on shares of NVIDIA in a report on Thursday. Piper Sandler boosted their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial increased their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Raymond James lifted their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Finally, UBS Group increased their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Price Performance

NASDAQ NVDA opened at $146.76 on Friday. The stock 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. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $149.77. The company’s 50 day moving average is $129.39 and its two-hundred day moving average is $119.51. 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 (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the company earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, research analysts anticipate that NVIDIA Co. will post 2.66 earnings per share for the current year.

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

NVIDIA Cuts Dividend

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

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.