Stegent Equity Advisors Inc. Acquires Shares of 3,319 NVIDIA Co. (NASDAQ:NVDA)

Stegent Equity Advisors Inc. bought a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,319 shares of the computer hardware maker’s stock, valued at approximately $403,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its stake in NVIDIA by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after acquiring an additional 13,135 shares during the last quarter. D Orazio & Associates Inc. boosted its position in shares of NVIDIA by 9.4% in the 1st quarter. D Orazio & Associates Inc. now owns 3,468 shares of the computer hardware maker’s stock worth $3,134,000 after purchasing an additional 298 shares during the last quarter. TBH Global Asset Management LLC grew its stake in shares of NVIDIA by 23.0% during the first quarter. TBH Global Asset Management LLC now owns 1,114 shares of the computer hardware maker’s stock worth $1,007,000 after purchasing an additional 208 shares during the period. Planning Directions Inc. grew its stake in shares of NVIDIA by 3.0% during the first quarter. Planning Directions Inc. now owns 935 shares of the computer hardware maker’s stock worth $844,000 after purchasing an additional 27 shares during the period. Finally, Ledyard National Bank increased its holdings in NVIDIA by 14.5% in the first quarter. Ledyard National Bank now owns 2,323 shares of the computer hardware maker’s stock valued at $2,099,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. The trade was a 0.16 % 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 worth $254,784,327. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $136.92 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $134.82 and its two-hundred day moving average price is $123.17. The company 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 Co. has a twelve month low of $45.01 and a twelve month high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the firm earned $0.38 EPS. The firm’s revenue was up 93.6% compared to the same quarter last year. On average, analysts predict that NVIDIA Co. will post 2.73 EPS for the current year.

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

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued 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 is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group boosted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Robert W. Baird boosted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. TD Cowen increased their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Finally, Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.