ACT Advisors LLC. Buys 698 Shares of NVIDIA Co. (NASDAQ:NVDA)

ACT Advisors LLC. boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.9% during the third quarter, Holdings Channel.com reports. The fund owned 8,540 shares of the computer hardware maker’s stock after acquiring an additional 698 shares during the quarter. NVIDIA accounts for 0.5% of ACT Advisors LLC.’s investment portfolio, making the stock its 21st largest holding. ACT Advisors LLC.’s holdings in NVIDIA were worth $1,037,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hamilton Wealth LLC lifted its stake in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares during the last quarter. Poehling Capital Management INC. raised its holdings in shares of NVIDIA by 0.9% in the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after buying an additional 14 shares during the period. FSA Wealth Management LLC lifted its stake in shares of NVIDIA by 3.0% during the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after acquiring an additional 14 shares during the last quarter. Clean Yield Group boosted its holdings in NVIDIA by 0.8% during the 1st quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock valued at $1,622,000 after acquiring an additional 15 shares during the period. Finally, Earnest Partners LLC grew its position in NVIDIA by 1.5% in the 1st quarter. Earnest Partners LLC now owns 1,133 shares of the computer hardware maker’s stock valued at $1,024,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. Raymond James boosted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus boosted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Robert W. Baird boosted their price target on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, DA Davidson increased their price objective on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Four equities research 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 has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Up 0.7 %

Shares of NVDA stock opened at $136.92 on Wednesday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The stock has a market cap of $3.35 trillion, a P/E ratio of 53.88, a P/E/G ratio of 2.60 and a beta of 1.66. The stock has a 50 day moving average of $134.82 and a 200 day moving average of $123.17. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.16 % 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 worth $254,784,327 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

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.