Genesee Capital Advisors LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Genesee Capital Advisors LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 37.2% in the third quarter, Holdings Channel reports. The firm owned 19,849 shares of the computer hardware maker’s stock after purchasing an additional 5,382 shares during the period. NVIDIA comprises approximately 1.2% of Genesee Capital Advisors LLC’s holdings, making the stock its 20th biggest position. Genesee Capital Advisors LLC’s holdings in NVIDIA were worth $2,410,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Denver Wealth Management Inc. lifted its holdings in shares of NVIDIA by 12.5% during the 3rd quarter. Denver Wealth Management Inc. now owns 2,724 shares of the computer hardware maker’s stock worth $331,000 after acquiring an additional 302 shares during the last quarter. Bluesphere Advisors LLC lifted its holdings in shares of NVIDIA by 34.4% during the 3rd quarter. Bluesphere Advisors LLC now owns 40,614 shares of the computer hardware maker’s stock worth $4,932,000 after acquiring an additional 10,401 shares during the last quarter. Berry Wealth Group LP lifted its holdings in shares of NVIDIA by 0.9% during the 3rd quarter. Berry Wealth Group LP now owns 10,964 shares of the computer hardware maker’s stock worth $1,331,000 after acquiring an additional 93 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in shares of NVIDIA by 905.3% during the 3rd quarter. Everence Capital Management Inc. now owns 625,840 shares of the computer hardware maker’s stock worth $76,002,000 after acquiring an additional 563,584 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of NVIDIA by 28.3% during the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 4,357 shares of the computer hardware maker’s stock worth $529,000 after acquiring an additional 960 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on NVDA. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Westpark Capital lifted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Monday, November 18th. Finally, DA Davidson boosted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,156,986 shares of company stock worth $254,885,999. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $135.34 on Thursday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company’s 50-day moving average is $135.26 and its 200 day moving average is $123.26. The stock has a market capitalization of $3.31 trillion, a P/E ratio of 53.26, a P/E/G ratio of 2.46 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. On average, sell-side analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA declared that its Board of Directors has initiated a stock 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.