Capital Investment Advisors LLC Acquires 41,677 Shares of NVIDIA Co. (NASDAQ:NVDA)

Capital Investment Advisors LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 13.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 349,268 shares of the computer hardware maker’s stock after acquiring an additional 41,677 shares during the quarter. Capital Investment Advisors LLC’s holdings in NVIDIA were worth $42,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in NVIDIA by 1,535.3% in the third quarter. Blue Trust Inc. now owns 232,150 shares of the computer hardware maker’s stock worth $28,680,000 after purchasing an additional 217,954 shares during the last quarter. Meridian Financial Partners LLC increased its stake in NVIDIA by 7.9% during the third quarter. Meridian Financial Partners LLC now owns 23,587 shares of the computer hardware maker’s stock worth $2,864,000 after acquiring an additional 1,723 shares during the last quarter. IFG Advisors LLC lifted its stake in NVIDIA by 7.2% in the third quarter. IFG Advisors LLC now owns 25,823 shares of the computer hardware maker’s stock worth $3,136,000 after purchasing an additional 1,736 shares during the last quarter. Mogy Joel R Investment Counsel Inc. boosted its holdings in shares of NVIDIA by 0.3% in the third quarter. Mogy Joel R Investment Counsel Inc. now owns 1,441,091 shares of the computer hardware maker’s stock valued at $175,006,000 after purchasing an additional 3,670 shares during the period. Finally, Riverview Trust Co lifted its holdings in NVIDIA by 0.8% during the third quarter. Riverview Trust Co now owns 18,235 shares of the computer hardware maker’s stock worth $2,214,000 after buying an additional 145 shares during the period. 65.27% of the stock is currently 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 Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 3.2 %

NVIDIA stock opened at $141.95 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.79. The firm has a fifty day moving average price of $134.01 and a two-hundred day moving average price of $122.51. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 55.89, a P/E/G ratio of 1.53 and a beta of 1.66. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. As a group, analysts forecast that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA announced that its board has authorized 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

NVIDIA Announces Dividend

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 paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Bank of America reiterated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. Citigroup increased their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Tuesday, August 6th. Finally, Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.