Echo Wealth Management LLC Purchases 341 Shares of NVIDIA Co. (NASDAQ:NVDA)

Echo Wealth Management LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 16.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,422 shares of the computer hardware maker’s stock after buying an additional 341 shares during the period. Echo Wealth Management LLC’s holdings in NVIDIA were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of NVDA. University of Texas Texas AM Investment Management Co. lifted its stake in NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Truepoint Inc. raised its stake in shares of NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. lifted its position in shares of NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after buying an additional 208,362 shares during the last quarter. Legal & General Group Plc grew its stake in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd increased its holdings in NVIDIA by 1,106.0% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after acquiring an additional 488,148 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NVDA shares. Robert W. Baird lifted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Wedbush raised their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Susquehanna lifted their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Melius Research boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were 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 in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % 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 worth $254,784,327. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.7 %

NASDAQ NVDA opened at $136.92 on Wednesday. The stock has a 50-day moving average of $134.82 and a 200-day moving average of $123.17. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The firm has a market cap of $3.35 trillion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid 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 of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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

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.