Corepath Wealth Partners LLC Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Corepath Wealth Partners LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 104.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,413 shares of the computer hardware maker’s stock after purchasing an additional 2,250 shares during the quarter. NVIDIA accounts for 0.5% of Corepath Wealth Partners LLC’s portfolio, making the stock its 19th largest position. Corepath Wealth Partners LLC’s holdings in NVIDIA were worth $536,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the 1st quarter worth approximately $27,000. HBC Financial Services PLLC acquired a new position in shares of NVIDIA in the 1st quarter valued at approximately $30,000. TCTC Holdings LLC purchased a new position in shares of NVIDIA during the 1st quarter valued at approximately $82,000. Finally, Delos Wealth Advisors LLC increased its stake in shares of NVIDIA by 600.0% in the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock worth $101,000 after buying an additional 96 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NVDA. William Blair assumed coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Citigroup increased their target price on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. DA Davidson reiterated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Stock Down 1.3 %

NVDA opened at $140.15 on Tuesday. 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 has a market capitalization of $3.44 trillion, a PE ratio of 65.74, a P/E/G ratio of 1.49 and a beta of 1.66. The stock’s fifty day moving average is $131.64 and its 200-day moving average is $120.96. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the business earned $0.25 earnings per share. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding 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 an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was 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 directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by insiders.

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.