NVIDIA Co. (NASDAQ:NVDA) is Wealth Effects LLC’s 2nd Largest Position

Wealth Effects LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 8.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 200,317 shares of the computer hardware maker’s stock after selling 18,711 shares during the period. NVIDIA makes up about 8.5% of Wealth Effects LLC’s holdings, making the stock its 2nd biggest holding. Wealth Effects LLC’s holdings in NVIDIA were worth $24,326,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares during the period. Legal & General Group Plc boosted its position 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 valued at $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its position in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. boosted its position in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in NVIDIA by 1,123.2% during 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 during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. UBS Group raised their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. William Blair assumed coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. DA Davidson raised their target price on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Stifel Nicolaus raised their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

NVDA opened at $135.34 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.26, a PEG ratio of 2.46 and a beta of 1.66. The company’s 50 day moving average is $135.26 and its 200 day moving average is $123.26. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue was up 93.6% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued 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 dividend payout ratio is currently 1.57%.

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 2,156,986 shares of company stock valued at $254,885,999 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

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.