NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Gries Financial LLC

Gries Financial LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 63.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,197 shares of the computer hardware maker’s stock after acquiring an additional 20,350 shares during the quarter. NVIDIA accounts for 1.2% of Gries Financial LLC’s investment portfolio, making the stock its 13th biggest position. Gries Financial LLC’s holdings in NVIDIA were worth $6,339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. increased its position in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the first quarter valued at about $26,000. CGC Financial Services LLC bought a new stake in NVIDIA in the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the first quarter valued at about $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The transaction 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 dated 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. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $141.95 on Monday. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. The business’s fifty day simple moving average is $134.01 and its 200 day simple moving average is $122.51. The company has a current ratio of 4.10, a quick ratio of 3.79 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12 month low of $45.01 and a 12 month 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 (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 analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, analysts anticipate that NVIDIA Co. will post 2.68 EPS for the current year.

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

NVIDIA Announces Dividend

The firm also recently announced 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%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NVDA shares. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Tuesday, August 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Monday, November 18th. Mizuho boosted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Benchmark upped their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Morgan Stanley upped their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $164.15.

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.