NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Armstrong Advisory Group Inc.

Armstrong Advisory Group Inc. increased its position in NVIDIA Co. (NASDAQ:NVDA) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,591 shares of the computer hardware maker’s stock after acquiring an additional 338 shares during the period. Armstrong Advisory Group Inc.’s holdings in NVIDIA were worth $2,136,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NVDA. Hamilton Wealth LLC grew its position in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares during the last quarter. Beacon Bridge Wealth Partners LLC raised its holdings in NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares in the last quarter. Poehling Capital Management INC. lifted 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 valued at $1,442,000 after buying an additional 14 shares during the period. FSA Wealth Management LLC lifted its holdings in NVIDIA by 3.0% in the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after acquiring an additional 14 shares during the last quarter. Finally, Clean Yield Group boosted its holdings in NVIDIA by 0.8% during the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after buying an additional 15 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last ninety days. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVDA. Morgan Stanley lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen raised NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Finally, HSBC raised their price target on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Stock Down 3.3 %

NASDAQ:NVDA opened at $141.98 on Friday. The firm has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $130.18 and its two-hundred day moving average price is $119.70. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the firm posted $0.25 earnings per share. The business’s revenue was up 122.4% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

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.