Ascent Group LLC Has $31.30 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Ascent Group LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 257,734 shares of the computer hardware maker’s stock after acquiring an additional 10,689 shares during the period. NVIDIA accounts for 2.4% of Ascent Group LLC’s investment portfolio, making the stock its 4th biggest position. Ascent Group LLC’s holdings in NVIDIA were worth $31,299,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NVDA. Quest Partners LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA in the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA in the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. DA Davidson raised their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Robert W. Baird raised their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Piper Sandler increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Melius Research raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.27.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 3.5 %

NVIDIA stock opened at $136.32 on Thursday. NVIDIA Co. has a 52-week low of $54.74 and a 52-week high of $153.13. The company has a market cap of $3.34 trillion, a P/E ratio of 53.65, a P/E/G ratio of 2.43 and a beta of 1.64. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $139.68 and a two-hundred day simple moving average of $128.82.

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 net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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