MinichMacGregor Wealth Management LLC Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

MinichMacGregor Wealth Management LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 5.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 90,993 shares of the computer hardware maker’s stock after purchasing an additional 4,455 shares during the quarter. NVIDIA accounts for approximately 2.4% of MinichMacGregor Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. MinichMacGregor Wealth Management LLC’s holdings in NVIDIA were worth $11,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. CGC Financial Services LLC purchased a new position in shares of NVIDIA during the second quarter valued at approximately $26,000. Quest Partners LLC bought a new stake in NVIDIA in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA during the 2nd quarter valued at $31,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of NVIDIA by 900.0% during the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after buying an additional 261 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research reports. Citigroup upped their price objective on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Piper Sandler boosted their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. The Goldman Sachs Group raised their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley increased their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In other news, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $201,687,727 over the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $130.68 on Friday. The firm has a market capitalization of $3.20 trillion, a price-to-earnings ratio of 51.43, a PEG ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a 50 day simple moving average of $139.63 and a 200-day simple moving average of $127.11. NVIDIA Co. has a 1 year low of $47.32 and a 1 year 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, topping 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 company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the company earned $0.38 earnings per share. NVIDIA’s revenue was up 93.6% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

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

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.