Bartlett & CO. Wealth Management LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Bartlett & CO. Wealth Management LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 15.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 748,789 shares of the computer hardware maker’s stock after purchasing an additional 97,975 shares during the quarter. NVIDIA comprises about 1.3% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 21st biggest holding. Bartlett & CO. Wealth Management LLC’s holdings in NVIDIA were worth $90,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Chronos Wealth Management LLC grew its holdings in NVIDIA by 8.4% during the 3rd quarter. Chronos Wealth Management LLC now owns 1,827 shares of the computer hardware maker’s stock valued at $222,000 after buying an additional 142 shares in the last quarter. Capital Investment Advisors LLC raised its position in NVIDIA by 13.5% during the 3rd quarter. Capital Investment Advisors LLC now owns 349,268 shares of the computer hardware maker’s stock valued at $42,415,000 after purchasing an additional 41,677 shares in the last quarter. Blue Trust Inc. raised its position in NVIDIA by 1,535.3% during the 3rd quarter. Blue Trust Inc. now owns 232,150 shares of the computer hardware maker’s stock valued at $28,680,000 after purchasing an additional 217,954 shares in the last quarter. Meridian Financial Partners LLC raised its position in NVIDIA by 7.9% during the 3rd quarter. Meridian Financial Partners LLC now owns 23,587 shares of the computer hardware maker’s stock valued at $2,864,000 after purchasing an additional 1,723 shares in the last quarter. Finally, IFG Advisors LLC increased its holdings in shares of NVIDIA by 7.2% in the 3rd quarter. IFG Advisors LLC now owns 25,823 shares of the computer hardware maker’s stock valued at $3,136,000 after acquiring an additional 1,736 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value 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. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday. Sanford C. Bernstein boosted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Craig Hallum upped their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. DA Davidson increased their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday. Finally, Citigroup upped their price target on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Down 3.2 %

Shares of NASDAQ NVDA opened at $141.95 on Monday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.79. The company has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. The business has a 50-day moving average of $134.01 and a two-hundred day moving average of $122.51.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, analysts forecast that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

NVIDIA Company 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.