Market Street Wealth Management Advisors LLC Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

Market Street Wealth Management Advisors LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 15.0% in the third quarter, HoldingsChannel reports. The fund owned 10,308 shares of the computer hardware maker’s stock after acquiring an additional 1,344 shares during the period. Market Street Wealth Management Advisors LLC’s holdings in NVIDIA were worth $1,252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fulton Breakefield Broenniman LLC raised its holdings in shares of NVIDIA by 474.9% during the third quarter. Fulton Breakefield Broenniman LLC now owns 120,028 shares of the computer hardware maker’s stock valued at $14,576,000 after purchasing an additional 99,151 shares during the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of NVIDIA by 11.9% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 44,237 shares of the computer hardware maker’s stock valued at $5,822,000 after buying an additional 4,694 shares during the period. Firethorn Wealth Partners LLC boosted its stake in shares of NVIDIA by 30.7% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 6,613 shares of the computer hardware maker’s stock worth $803,000 after buying an additional 1,553 shares during the last quarter. Provident Wealth Management LLC grew its holdings in shares of NVIDIA by 17.6% in the third 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 period. Finally, Carderock Capital Management Inc. increased its position 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 last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $145.89 on Thursday. The company has a 50 day moving average price of $133.00 and a 200 day moving average price of $121.54. The firm has a market capitalization of $3.58 trillion, a P/E ratio of 68.49, a PEG ratio of 1.49 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. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. Sell-side analysts expect that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA announced that its board has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 5,852,480 shares of the company’s stock, 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. Over the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVDA shares. Wedbush restated an “outperform” rating and set a $160.00 price target (up from $138.00) on shares of NVIDIA in a research note on Thursday, November 14th. Craig Hallum upped their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Robert W. Baird lifted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Finally, Citigroup boosted their price target on NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Five investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $154.63.

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.