Warren Street Wealth Advisors LLC Acquires 3,275 Shares of NVIDIA Co. (NASDAQ:NVDA)

Warren Street Wealth Advisors LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 36,476 shares of the computer hardware maker’s stock after acquiring an additional 3,275 shares during the period. NVIDIA makes up 1.8% of Warren Street Wealth Advisors LLC’s holdings, making the stock its 12th largest position. Warren Street Wealth Advisors LLC’s holdings in NVIDIA were worth $4,430,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in NVIDIA by 884.0% during the 2nd 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 last quarter. Bank of New York Mellon Corp raised its holdings in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. boosted its position in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. HSBC raised their price target on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Susquehanna lifted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Craig Hallum raised their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Raymond James upped their price objective on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Finally, TD Cowen increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

NVDA stock opened at $136.02 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. 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 market capitalization of $3.33 trillion, a P/E ratio of 53.53, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced 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 company 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%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Research analysts expect that NVIDIA Co. will post 2.73 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced 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 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%.

NVIDIA announced that its board has initiated a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was 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 directly 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. Corporate 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.