Paladin Wealth LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Paladin Wealth LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to its most recent filing with the SEC. The fund purchased 19,068 shares of the computer hardware maker’s stock, valued at approximately $2,316,000. NVIDIA comprises 2.0% of Paladin Wealth LLC’s portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the company. VitalStone Financial LLC raised its holdings in shares of NVIDIA by 8.3% during the third quarter. VitalStone Financial LLC now owns 30,382 shares of the computer hardware maker’s stock worth $3,690,000 after purchasing an additional 2,319 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in NVIDIA by 44.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 98,460 shares of the computer hardware maker’s stock worth $11,957,000 after acquiring an additional 30,085 shares during the last quarter. Oliver Luxxe Assets LLC boosted its stake in NVIDIA by 6.6% in the third quarter. Oliver Luxxe Assets LLC now owns 2,345 shares of the computer hardware maker’s stock valued at $285,000 after acquiring an additional 145 shares during the period. Smith Chas P & Associates PA Cpas grew its holdings in shares of NVIDIA by 15.3% during the third quarter. Smith Chas P & Associates PA Cpas now owns 19,392 shares of the computer hardware maker’s stock valued at $2,355,000 after purchasing an additional 2,566 shares during the last quarter. Finally, Thomasville National Bank raised its position in shares of NVIDIA by 432.3% during the 3rd quarter. Thomasville National Bank now owns 83,923 shares of the computer hardware maker’s stock worth $10,192,000 after purchasing an additional 68,158 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Oppenheimer upped their price target on shares of NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday. Evercore ISI lifted their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Mizuho raised their price target on shares of NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Melius Research boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.40.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last three months. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $141.98 on Friday. The company has a market capitalization of $3.48 trillion, a PE ratio of 66.66, a PEG ratio of 1.54 and a beta of 1.66. 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 company’s 50 day moving average price is $130.97 and its 200 day moving average price is $120.08. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Research analysts expect that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.88%.

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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.