Proathlete Wealth Management LLC Buys 243 Shares of NVIDIA Co. (NASDAQ:NVDA)

Proathlete Wealth Management LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 16,227 shares of the computer hardware maker’s stock after buying an additional 243 shares during the quarter. NVIDIA accounts for 0.8% of Proathlete Wealth Management LLC’s portfolio, making the stock its 19th biggest position. Proathlete Wealth Management LLC’s holdings in NVIDIA were worth $1,971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. University of Texas Texas AM Investment Management Co. lifted its holdings in NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after buying an additional 107,169 shares during the period. Truepoint Inc. increased its stake in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. lifted its stake in NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after acquiring an additional 208,362 shares during the period. Legal & General Group Plc lifted its stake in NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd boosted its holdings in NVIDIA by 1,106.0% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after acquiring an additional 488,148 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

Shares of NVDA opened at $136.02 on Tuesday. The business has a 50-day simple moving average of $134.39 and a two-hundred day simple moving average of $122.84. 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 Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The stock has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.53, a PEG ratio of 2.60 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid 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 1.57%.

NVIDIA declared that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Evercore ISI upped their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Redburn Atlantic assumed coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. Truist Financial lifted their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group increased their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Bank of America restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred 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 owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the transaction, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company 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.