Beta Wealth Group Inc. Acquires 10,069 Shares of NVIDIA Co. (NASDAQ:NVDA)

Beta Wealth Group Inc. raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 88.4% in the third quarter, HoldingsChannel reports. The firm owned 21,461 shares of the computer hardware maker’s stock after buying an additional 10,069 shares during the quarter. NVIDIA makes up 1.2% of Beta Wealth Group Inc.’s investment portfolio, making the stock its 28th biggest position. Beta Wealth Group Inc.’s holdings in NVIDIA were worth $2,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Pegasus Partners Ltd. raised its holdings in NVIDIA by 16.9% in the 3rd quarter. Pegasus Partners Ltd. now owns 28,748 shares of the computer hardware maker’s stock worth $3,491,000 after purchasing an additional 4,147 shares in the last quarter. Carson Advisory Inc. increased its position in shares of NVIDIA by 19.1% during the third quarter. Carson Advisory Inc. now owns 8,581 shares of the computer hardware maker’s stock valued at $1,042,000 after buying an additional 1,376 shares during the period. Rovin Capital UT ADV raised its stake in NVIDIA by 108.3% in the third quarter. Rovin Capital UT ADV now owns 10,952 shares of the computer hardware maker’s stock worth $1,330,000 after buying an additional 5,695 shares in the last quarter. Crumly & Associates Inc. lifted its holdings in NVIDIA by 162.5% in the third quarter. Crumly & Associates Inc. now owns 10,319 shares of the computer hardware maker’s stock worth $1,253,000 after buying an additional 6,388 shares during the period. Finally, Windward Capital Management Co. CA bought a new stake in NVIDIA during the 3rd quarter valued at approximately $1,157,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on 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 directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the sale, the director now owns 8,380,117 shares in the company, valued at $1,014,077,958.17. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,391,886 shares of company stock valued at $181,666,050 in the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 0.4 %

Shares of NVIDIA stock opened at $140.22 on Wednesday. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 55.18, a PEG ratio of 2.43 and a beta of 1.63. 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 stock has a 50 day moving average price of $139.66 and a two-hundred day moving average price of $127.49.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the business earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA declared that its Board of Directors has authorized a stock buyback 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVDA. Morgan Stanley upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Citigroup lifted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. The Goldman Sachs Group boosted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Redburn Atlantic began coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Finally, Mizuho increased their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.