Firethorn Wealth Partners LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Firethorn Wealth Partners LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 30.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,613 shares of the computer hardware maker’s stock after purchasing an additional 1,553 shares during the period. Firethorn Wealth Partners LLC’s holdings in NVIDIA were worth $803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Provident Wealth Management LLC boosted its stake in shares of NVIDIA by 17.6% during the 3rd quarter. Provident Wealth Management LLC now owns 4,282 shares of the computer hardware maker’s stock worth $520,000 after acquiring an additional 642 shares during the last quarter. Carderock Capital Management Inc. raised its holdings in NVIDIA by 72.1% during the third quarter. Carderock Capital Management Inc. now owns 53,497 shares of the computer hardware maker’s stock valued at $6,497,000 after acquiring an additional 22,421 shares during the period. Paragon Capital Management Inc. lifted its position in shares of NVIDIA by 5.0% in the third quarter. Paragon Capital Management Inc. now owns 21,144 shares of the computer hardware maker’s stock valued at $2,568,000 after acquiring an additional 1,005 shares in the last quarter. BOS Asset Management LLC lifted its holdings in shares of NVIDIA by 4.7% in the third quarter. BOS Asset Management LLC now owns 48,473 shares of the computer hardware maker’s stock worth $5,887,000 after buying an additional 2,182 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of NVIDIA by 7.0% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 14,204 shares of the computer hardware maker’s stock worth $1,725,000 after buying an additional 933 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of 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 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 valued at $254,784,327. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Down 0.8 %

NVDA opened at $145.89 on Thursday. The business’s 50-day simple moving average is $133.00 and its 200-day simple moving average is $121.54. The company has a market cap of $3.58 trillion, a P/E ratio of 68.49, a PEG ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, equities research analysts expect that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share repurchase 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs 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. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVDA. Citigroup boosted their target price on shares of NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Truist Financial boosted their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday. Benchmark reiterated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Morgan Stanley boosted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $154.63.

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.