NVIDIA Co. (NASDAQ:NVDA) is Hedeker Wealth LLC’s 7th Largest Position

Hedeker Wealth LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 391.1% during the third quarter, HoldingsChannel reports. The firm owned 105,603 shares of the computer hardware maker’s stock after purchasing an additional 84,099 shares during the period. NVIDIA makes up approximately 3.4% of Hedeker Wealth LLC’s holdings, making the stock its 7th biggest holding. Hedeker Wealth LLC’s holdings in NVIDIA were worth $12,824,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Pensionfund Sabic raised its position in NVIDIA by 900.0% in the 2nd quarter. Pensionfund Sabic now owns 10,000 shares of the computer hardware maker’s stock worth $1,235,000 after purchasing an additional 9,000 shares during the period. Waller Financial Planning Group Inc. bought a new position in shares of NVIDIA during the second quarter valued at about $378,000. Red Spruce Capital LLC increased its holdings in shares of NVIDIA by 917.1% in the second quarter. Red Spruce Capital LLC now owns 17,260 shares of the computer hardware maker’s stock worth $2,132,000 after buying an additional 15,563 shares during the period. Appleton Partners Inc. MA lifted its stake in shares of NVIDIA by 1,631.4% in the 2nd quarter. Appleton Partners Inc. MA now owns 81,012 shares of the computer hardware maker’s stock valued at $10,008,000 after acquiring an additional 76,333 shares during the last quarter. Finally, Centre Asset Management LLC boosted its holdings in NVIDIA by 922.9% during the 2nd quarter. Centre Asset Management LLC now owns 230,385 shares of the computer hardware maker’s stock valued at $28,462,000 after acquiring an additional 207,862 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on NVDA. HSBC lifted their price target on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. DA Davidson upped their price target on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Evercore ISI increased their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Barclays boosted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Truist Financial increased their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,556,986 shares of company stock valued at $188,359,199 over the last three months. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVDA stock opened at $135.07 on Wednesday. The stock’s 50 day simple moving average is $138.51 and its 200 day simple moving average is $126.04. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $45.83 and a 12-month high of $152.89. The stock has a market capitalization of $3.31 trillion, a PE ratio of 53.18, a price-to-earnings-growth ratio of 2.58 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

NVIDIA declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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.