J.W. Cole Advisors Inc. Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

J.W. Cole Advisors Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 12.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 446,461 shares of the computer hardware maker’s stock after acquiring an additional 50,829 shares during the period. NVIDIA accounts for 2.3% of J.W. Cole Advisors Inc.’s investment portfolio, making the stock its 4th biggest position. J.W. Cole Advisors Inc.’s holdings in NVIDIA were worth $54,218,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ellis Investment Partners LLC boosted its stake in shares of NVIDIA by 9.4% during the 3rd quarter. Ellis Investment Partners LLC now owns 9,173 shares of the computer hardware maker’s stock valued at $1,114,000 after purchasing an additional 785 shares in the last quarter. Barnes Pettey Financial Advisors LLC boosted its stake in shares of NVIDIA by 0.7% during the 3rd quarter. Barnes Pettey Financial Advisors LLC now owns 19,737 shares of the computer hardware maker’s stock valued at $2,397,000 after purchasing an additional 134 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of NVIDIA by 6.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,207,781 shares of the computer hardware maker’s stock valued at $389,552,000 after purchasing an additional 180,501 shares in the last quarter. Carret Asset Management LLC boosted its stake in shares of NVIDIA by 16.7% during the 3rd quarter. Carret Asset Management LLC now owns 62,638 shares of the computer hardware maker’s stock valued at $7,607,000 after purchasing an additional 8,981 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC boosted its stake in shares of NVIDIA by 29.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 2,706 shares of the computer hardware maker’s stock valued at $329,000 after purchasing an additional 617 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the sale, the chief executive officer now directly owns 75,655,836 shares in the company, valued at $8,460,592,139.88. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,796,986 shares of company stock valued at $214,418,399 in the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Stock Down 1.8 %

NASDAQ:NVDA opened at $142.44 on Friday. NVIDIA Co. has a fifty-two week low of $45.60 and a fifty-two week high of $152.89. The stock has a market capitalization of $3.49 trillion, a P/E ratio of 56.06, a P/E/G ratio of 2.62 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company’s 50-day simple moving average is $138.16 and its 200-day simple moving average is $125.58.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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. The business 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%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its board has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a $0.01 dividend. 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 currently 1.57%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVDA. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Westpark Capital lifted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Robert W. Baird lifted their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.