NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Prosperitas Financial LLC

Prosperitas Financial LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.9% during the third quarter, Holdings Channel.com reports. The firm owned 61,530 shares of the computer hardware maker’s stock after acquiring an additional 1,723 shares during the quarter. NVIDIA accounts for about 4.0% of Prosperitas Financial LLC’s portfolio, making the stock its 8th biggest position. Prosperitas Financial LLC’s holdings in NVIDIA were worth $7,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cedar Point Capital Partners LLC increased its position in shares of NVIDIA by 4.8% in the third quarter. Cedar Point Capital Partners LLC now owns 5,886 shares of the computer hardware maker’s stock valued at $715,000 after acquiring an additional 271 shares during the last quarter. Latitude Advisors LLC boosted its position in NVIDIA by 10.6% during the third quarter. Latitude Advisors LLC now owns 22,589 shares of the computer hardware maker’s stock valued at $2,743,000 after purchasing an additional 2,166 shares during the last quarter. Cardinal Strategic Wealth Guidance grew its stake in NVIDIA by 2.6% in the third quarter. Cardinal Strategic Wealth Guidance now owns 3,426 shares of the computer hardware maker’s stock valued at $416,000 after purchasing an additional 86 shares in the last quarter. Baxter Bros Inc. increased its position in shares of NVIDIA by 5.8% during the 3rd quarter. Baxter Bros Inc. now owns 5,516 shares of the computer hardware maker’s stock worth $670,000 after purchasing an additional 301 shares during the last quarter. Finally, Indie Asset Partners LLC raised its stake in shares of NVIDIA by 44.1% during the 3rd quarter. Indie Asset Partners LLC now owns 17,332 shares of the computer hardware maker’s stock worth $2,105,000 after purchasing an additional 5,306 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was 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 approximately $577,611,810.26. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,156 shares of company stock worth $197,995,077 in the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $132.00 on Tuesday. The company’s 50-day moving average price is $139.84 and its two-hundred day moving average price is $126.92. The firm has a market cap of $3.23 trillion, a P/E ratio of 51.95, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89.

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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the company posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Bank of America reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Morgan Stanley upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Robert W. Baird raised their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Citigroup boosted their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. 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. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $164.15.

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.