5,022 Shares in NVIDIA Co. (NASDAQ:NVDA) Acquired by Joseph Group Capital Management

Joseph Group Capital Management bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the third quarter, HoldingsChannel.com reports. The firm bought 5,022 shares of the computer hardware maker’s stock, valued at approximately $610,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc increased its holdings in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Ameriprise Financial Inc. increased its stake in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,226,886 shares of company stock worth $161,499,400 over the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $144.47 on Friday. 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 $47.51 and a 12 month high of $152.89. The stock has a market cap of $3.54 trillion, a PE ratio of 56.86, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a 50-day moving average price of $139.57 and a 200 day moving average price of $128.25.

NVIDIA (NASDAQ:NVDA) last announced its 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 business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. Bank of America reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. Raymond James raised their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Finally, William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.