TruWealth Advisors LLC Increases Position in NVIDIA Co. (NASDAQ:NVDA)

TruWealth Advisors LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.5% in the 3rd quarter, Holdings Channel reports. The fund owned 39,085 shares of the computer hardware maker’s stock after buying an additional 950 shares during the quarter. TruWealth Advisors LLC’s holdings in NVIDIA were worth $4,747,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares in the last quarter. Legal & General Group Plc boosted its position 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 period. Bank of New York Mellon Corp boosted its position in NVIDIA by 854.1% during the second 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 buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. boosted its position in NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NVDA shares. Redburn Atlantic started coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Needham & Company LLC upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. Robert W. Baird increased their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Phillip Securities reiterated an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a report on Friday. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $164.15.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by insiders.

NVIDIA Price Performance

Shares of NVDA opened at $141.95 on Friday. The company has a market capitalization of $3.48 trillion, a P/E ratio of 66.58, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $134.01 and a 200 day moving average of $122.06. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89.

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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.