Adero Partners LLC Acquires 9,891 Shares of NVIDIA Co. (NASDAQ:NVDA)

Adero Partners LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,843 shares of the computer hardware maker’s stock after buying an additional 9,891 shares during the quarter. NVIDIA makes up about 2.0% of Adero Partners LLC’s portfolio, making the stock its 12th biggest position. Adero Partners LLC’s holdings in NVIDIA were worth $30,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. raised its stake in shares of NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after acquiring an additional 107,169 shares in the last quarter. Truepoint Inc. increased its holdings in NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the period. Westwood Holdings Group Inc. raised its position in NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares in the last quarter. Blue Square Asset Management LLC lifted its holdings in shares of NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares during the period. Finally, Narwhal Capital Management grew its position in shares of NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. The Goldman Sachs Group lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Citigroup increased their target price on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Performance

NASDAQ NVDA opened at $138.31 on Friday. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market capitalization of $3.39 trillion, a P/E ratio of 54.43, a PEG ratio of 2.43 and a beta of 1.63. The stock has a 50-day simple moving average of $139.51 and a two-hundred day simple moving average of $128.16.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. On average, equities analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the company’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 of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,226,886 shares of company stock valued at $161,499,400. Corporate insiders own 4.23% of the company’s stock.

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.