MidAtlantic Capital Management Inc. Invests $122,000 in NVIDIA Co. (NASDAQ:NVDA)

MidAtlantic Capital Management Inc. acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,001 shares of the computer hardware maker’s stock, valued at approximately $122,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hoertkorn Richard Charles increased its stake in NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares during the period. Smart Portfolios LLC grew its holdings in shares of NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares in the last quarter. Total Wealth Planning LLC increased its stake in NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after buying an additional 78 shares during the period. Boyd Watterson Asset Management LLC OH lifted its holdings in NVIDIA by 0.3% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after buying an additional 80 shares in the last quarter. Finally, Pavion Blue Capital LLC boosted its position in NVIDIA by 0.4% in the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after buying an additional 80 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NVDA. Redburn Atlantic assumed coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. Raymond James upped their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price objective on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Phillip Securities restated an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,226,886 shares of company stock valued at $161,499,400. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Up 4.5 %

Shares of NVDA stock opened at $144.47 on Friday. The company has a market cap of $3.54 trillion, a PE ratio of 56.86, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 1 year low of $47.51 and a 1 year high of $152.89. The stock’s 50 day simple moving average is $139.57 and its two-hundred day simple moving average is $128.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

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, 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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The business’s revenue was up 93.6% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company 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 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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.