NVIDIA Co. (NASDAQ:NVDA) Stock Position Raised by HCR Wealth Advisors

HCR Wealth Advisors raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 264,764 shares of the computer hardware maker’s stock after buying an additional 22,612 shares during the quarter. NVIDIA makes up about 4.2% of HCR Wealth Advisors’ holdings, making the stock its 5th largest holding. HCR Wealth Advisors’ holdings in NVIDIA were worth $32,153,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. China Universal Asset Management Co. Ltd. boosted its position 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 worth $34,597,000 after purchasing an additional 13,135 shares during the last quarter. Crown Wealth Group LLC boosted its holdings in shares of NVIDIA by 28.7% in the first quarter. Crown Wealth Group LLC now owns 3,586 shares of the computer hardware maker’s stock worth $3,240,000 after buying an additional 800 shares during the last quarter. Harbor Advisors LLC grew its position in NVIDIA by 3.4% during the first quarter. Harbor Advisors LLC now owns 18,000 shares of the computer hardware maker’s stock valued at $16,264,000 after buying an additional 600 shares during the period. Presilium Private Wealth LLC purchased a new stake in NVIDIA during the first quarter valued at approximately $201,000. Finally, Better Money Decisions LLC raised its position in NVIDIA by 4.8% in the first quarter. Better Money Decisions LLC now owns 727 shares of the computer hardware maker’s stock worth $657,000 after acquiring an additional 33 shares during the period. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last quarter. 4.23% of the stock is owned by insiders.

NVIDIA Price Performance

NASDAQ:NVDA opened at $146.76 on Friday. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a 50 day moving average price of $129.39 and a 200 day moving average price of $119.51. The stock has a market cap of $3.60 trillion, a PE ratio of 68.84, a P/E/G ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. Equities research analysts expect that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Oppenheimer upped their price objective on NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday. DA Davidson reiterated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Westpark Capital raised their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. The Goldman Sachs Group upped their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

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.