Assetmark Inc. Has $594.47 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Assetmark Inc. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 9.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,895,147 shares of the computer hardware maker’s stock after acquiring an additional 424,680 shares during the period. NVIDIA accounts for approximately 1.7% of Assetmark Inc.’s holdings, making the stock its 10th biggest position. Assetmark Inc.’s holdings in NVIDIA were worth $594,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NVDA. Lantz Financial LLC raised its holdings in shares of NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after acquiring an additional 36,774 shares during the period. WASHINGTON TRUST Co grew its position in NVIDIA by 849.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 728,910 shares of the computer hardware maker’s stock worth $90,050,000 after purchasing an additional 652,119 shares in the last quarter. Wedmont Private Capital raised its stake in NVIDIA by 966.0% during the 2nd quarter. Wedmont Private Capital now owns 338,214 shares of the computer hardware maker’s stock valued at $43,711,000 after purchasing an additional 306,487 shares during the period. Roman Butler Fullerton & Co. lifted its holdings in shares of NVIDIA by 949.5% in the second quarter. Roman Butler Fullerton & Co. now owns 128,128 shares of the computer hardware maker’s stock valued at $17,286,000 after purchasing an additional 115,920 shares in the last quarter. Finally, JBR Co Financial Management Inc boosted its position in shares of NVIDIA by 919.5% in the second quarter. JBR Co Financial Management Inc now owns 194,354 shares of the computer hardware maker’s stock worth $24,010,000 after buying an additional 175,291 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $140.22 on Wednesday. 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 company has a market cap of $3.43 trillion, a PE ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The firm has a fifty day moving average price of $139.66 and a two-hundred day moving average price of $127.49. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given 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 dividend payout ratio is presently 1.57%.

NVIDIA announced that its Board of Directors has approved a stock buyback plan 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Evercore ISI increased their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Westpark Capital increased their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley raised their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company lifted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Four research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the transaction, the director now owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,391,886 shares of company stock worth $181,666,050. 4.23% of the stock is 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.