Waypoint Capital Advisors LLC Purchases 862 Shares of NVIDIA Co. (NASDAQ:NVDA)

Waypoint Capital Advisors LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,336 shares of the computer hardware maker’s stock after buying an additional 862 shares during the quarter. Waypoint Capital Advisors LLC’s holdings in NVIDIA were worth $1,862,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NVDA. China Universal Asset Management Co. Ltd. increased its holdings in shares of NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after purchasing an additional 13,135 shares in the last quarter. Berkshire Money Management Inc. purchased a new position in NVIDIA in the 1st quarter valued at $866,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of NVIDIA by 12.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,500,599 shares of the computer hardware maker’s stock worth $1,355,881,000 after purchasing an additional 164,798 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in NVIDIA by 42.0% in the 1st quarter. Koshinski Asset Management Inc. now owns 13,754 shares of the computer hardware maker’s stock valued at $12,428,000 after buying an additional 4,069 shares in the last quarter. Finally, New Insight Wealth Advisors boosted its position in shares of NVIDIA by 2.4% during the 1st quarter. New Insight Wealth Advisors now owns 1,319 shares of the computer hardware maker’s stock valued at $1,192,000 after acquiring an additional 31 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the sale, the director now owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. The trade was a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC upped their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Susquehanna lifted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, HSBC boosted their target price on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Four 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $136.02 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $3.33 trillion, a PE ratio of 53.53, a P/E/G ratio of 2.60 and a beta of 1.66. The stock has a fifty day moving average price of $134.39 and a 200 day moving average price of $122.84. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued 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. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Sell-side analysts forecast that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA announced that its board has authorized a stock buyback plan 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

About NVIDIA

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.