Legacy CG LLC Has $4.71 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Legacy CG LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,194.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,789 shares of the computer hardware maker’s stock after purchasing an additional 35,793 shares during the quarter. Legacy CG LLC’s holdings in NVIDIA were worth $4,711,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NVDA. Impax Asset Management Group plc grew its stake in NVIDIA by 13.2% during the third quarter. Impax Asset Management Group plc now owns 5,501,589 shares of the computer hardware maker’s stock worth $667,278,000 after purchasing an additional 640,840 shares during the period. Arlington Capital Management Inc. boosted its holdings in shares of NVIDIA by 2.5% during the 3rd quarter. Arlington Capital Management Inc. now owns 62,318 shares of the computer hardware maker’s stock worth $7,568,000 after buying an additional 1,512 shares in the last quarter. Quintet Private Bank Europe S.A. grew its position in shares of NVIDIA by 6.5% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 1,675,393 shares of the computer hardware maker’s stock worth $203,460,000 after buying an additional 102,869 shares during the period. TKG Advisors LLC lifted its position in shares of NVIDIA by 4.8% during the 3rd quarter. TKG Advisors LLC now owns 39,346 shares of the computer hardware maker’s stock valued at $4,778,000 after acquiring an additional 1,807 shares during the period. Finally, World Equity Group Inc. grew its holdings in NVIDIA by 17.0% in the third quarter. World Equity Group Inc. now owns 50,211 shares of the computer hardware maker’s stock worth $6,098,000 after purchasing an additional 7,286 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $128.91 on Thursday. 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 Co. has a one year low of $47.32 and a one year high of $152.89. The firm has a market capitalization of $3.16 trillion, a P/E ratio of 50.73, a PEG ratio of 2.43 and a beta of 1.63. The business has a fifty day moving average price of $139.72 and a 200-day moving average price of $127.08.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the firm earned $0.38 EPS. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, equities research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The company 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. DA Davidson upped their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Bank of America reaffirmed a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Citigroup boosted their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Robert W. Baird upped their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,628,156 shares of company stock worth $209,985,077 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

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.