NVIDIA Co. (NASDAQ:NVDA) Stake Raised by JBR Co Financial Management Inc

JBR Co Financial Management Inc grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 197,534 shares of the computer hardware maker’s stock after acquiring an additional 3,180 shares during the quarter. NVIDIA accounts for 15.7% of JBR Co Financial Management Inc’s portfolio, making the stock its largest position. JBR Co Financial Management Inc’s holdings in NVIDIA were worth $23,988,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NVDA. McGlone Suttner Wealth Management Inc. grew its stake in NVIDIA by 990.3% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 30,398 shares of the computer hardware maker’s stock worth $3,692,000 after acquiring an additional 27,610 shares during the period. Koshinski Asset Management Inc. grew its position in shares of NVIDIA by 3.4% in the third quarter. Koshinski Asset Management Inc. now owns 115,257 shares of the computer hardware maker’s stock valued at $13,997,000 after purchasing an additional 3,800 shares during the period. Johnson Bixby & Associates LLC increased its stake in NVIDIA by 10.2% in the third quarter. Johnson Bixby & Associates LLC now owns 9,819 shares of the computer hardware maker’s stock valued at $1,192,000 after purchasing an additional 909 shares during the last quarter. Factory Mutual Insurance Co. lifted its position in NVIDIA by 2.8% during the third quarter. Factory Mutual Insurance Co. now owns 3,106,048 shares of the computer hardware maker’s stock worth $377,198,000 after buying an additional 85,048 shares during the period. Finally, Shira Ridge Wealth Management boosted its stake in NVIDIA by 1.9% in the 3rd quarter. Shira Ridge Wealth Management now owns 5,416 shares of the computer hardware maker’s stock worth $658,000 after buying an additional 100 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NVDA shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Benchmark reiterated a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Wedbush restated an “outperform” rating and set a $160.00 price objective (up from $138.00) on shares of NVIDIA in a report on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Citigroup upped their price target on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.40.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’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 completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $141.98 on Friday. The company has a market cap of $3.48 trillion, a PE ratio of 66.66, a P/E/G ratio of 1.54 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 has a fifty day moving average price of $130.18 and a two-hundred day moving average price of $119.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. Research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has initiated a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.