CarsonAllaria Wealth Management Ltd. Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

CarsonAllaria Wealth Management Ltd. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 28.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,357 shares of the computer hardware maker’s stock after buying an additional 960 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in NVIDIA were worth $529,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of NVIDIA by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after acquiring an additional 13,135 shares in the last quarter. Delos Wealth Advisors LLC increased its holdings in shares of NVIDIA by 600.0% during the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock valued at $101,000 after acquiring an additional 96 shares in the last quarter. Socha Financial Group LLC acquired a new position in shares of NVIDIA during the first quarter valued at about $352,000. Forum Financial Management LP increased its holdings in shares of NVIDIA by 1.0% during the first quarter. Forum Financial Management LP now owns 15,955 shares of the computer hardware maker’s stock valued at $14,417,000 after acquiring an additional 163 shares in the last quarter. Finally, GM Advisory Group LLC increased its holdings in shares of NVIDIA by 5.0% during the first quarter. GM Advisory Group LLC now owns 26,430 shares of the computer hardware maker’s stock valued at $23,881,000 after acquiring an additional 1,261 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 1.2 %

Shares of NVDA stock opened at $135.34 on Thursday. The stock’s fifty day moving average is $135.26 and its two-hundred day moving average is $123.26. 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 firm has a market capitalization of $3.31 trillion, a P/E ratio of 53.26, a PEG ratio of 2.46 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 announced its quarterly earnings data 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 company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. Research analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NVDA shares. Citigroup upped their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Phillip Securities reiterated an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. HSBC increased their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Raymond James increased their price target on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Finally, Redburn Atlantic initiated coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,986 shares of company stock worth $254,885,999. Corporate insiders own 4.23% of the company’s stock.

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.