Crestwood Advisors Group LLC Purchases 28,756 Shares of NVIDIA Co. (NASDAQ:NVDA)

Crestwood Advisors Group LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 327,057 shares of the computer hardware maker’s stock after purchasing an additional 28,756 shares during the quarter. Crestwood Advisors Group LLC’s holdings in NVIDIA were worth $39,718,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVDA. NorthRock Partners LLC boosted its holdings in NVIDIA by 39.3% during the 3rd quarter. NorthRock Partners LLC now owns 263,912 shares of the computer hardware maker’s stock valued at $32,049,000 after acquiring an additional 74,509 shares during the period. Heritage Investors Management Corp lifted its position in shares of NVIDIA by 8.5% during the third quarter. Heritage Investors Management Corp now owns 522,556 shares of the computer hardware maker’s stock worth $63,459,000 after purchasing an additional 40,732 shares during the last quarter. Arthur M. Cohen & Associates LLC boosted its stake in shares of NVIDIA by 3.3% during the third quarter. Arthur M. Cohen & Associates LLC now owns 370,880 shares of the computer hardware maker’s stock valued at $43,413,000 after purchasing an additional 11,841 shares during the period. Hanlon Investment Management Inc. grew its holdings in shares of NVIDIA by 62.1% in the third quarter. Hanlon Investment Management Inc. now owns 37,951 shares of the computer hardware maker’s stock worth $4,609,000 after purchasing an additional 14,533 shares during the last quarter. Finally, W.H. Cornerstone Investments Inc. increased its stake in NVIDIA by 25.8% in the 3rd quarter. W.H. Cornerstone Investments Inc. now owns 3,045 shares of the computer hardware maker’s stock worth $370,000 after buying an additional 625 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,556,986 shares of company stock worth $201,687,727 over the last three months. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Monday, November 18th. TD Cowen raised their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Evercore ISI lifted their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Citigroup increased their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Up 1.4 %

NVIDIA stock opened at $130.68 on Friday. The business’s 50-day simple moving average is $139.63 and its two-hundred day simple moving average is $127.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market cap of $3.20 trillion, a PE ratio of 51.43, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS 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 firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA declared that its board has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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.