Benin Management CORP Acquires 9,576 Shares of NVIDIA Co. (NASDAQ:NVDA)

Benin Management CORP increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 62.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,860 shares of the computer hardware maker’s stock after purchasing an additional 9,576 shares during the period. NVIDIA makes up 0.8% of Benin Management CORP’s holdings, making the stock its 18th biggest holding. Benin Management CORP’s holdings in NVIDIA were worth $3,019,000 as of its most recent filing with the Securities & Exchange Commission.

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

NVIDIA Stock Down 1.2 %

NVDA stock opened at $135.34 on Thursday. The stock’s 50 day moving average is $135.26 and its 200-day moving average is $123.26. The firm has a market capitalization of $3.31 trillion, a PE ratio of 53.26, a P/E/G ratio of 2.46 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business 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%. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued 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 yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value 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 $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,986 shares of company stock worth $254,885,999. 4.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on NVDA. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Melius Research increased their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Stifel Nicolaus increased their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Phillip Securities reissued an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.