Marks Group Wealth Management Inc Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Marks Group Wealth Management Inc increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,309 shares of the computer hardware maker’s stock after purchasing an additional 2,017 shares during the period. Marks Group Wealth Management Inc’s holdings in NVIDIA were worth $2,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. University of Texas Texas AM Investment Management Co. increased its holdings in shares of NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. grew its position in NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. increased its holdings in NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after buying an additional 208,362 shares in the last quarter. Blue Square Asset Management LLC raised its position in shares of NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after acquiring an additional 10,136 shares during the period. Finally, Narwhal Capital Management boosted its stake in shares of NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after acquiring an additional 26,373 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,556,986 shares of company stock worth $201,687,727. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 1.4 %

Shares of NASDAQ NVDA opened at $130.68 on Friday. 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’s 50 day moving average is $139.63 and its two-hundred day moving average is $127.11. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The firm has a market cap of $3.20 trillion, a price-to-earnings ratio of 51.43, a PEG ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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 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 the consensus estimate of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 EPS. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits 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 leadership believes its stock is undervalued.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wedbush lifted their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Stifel Nicolaus upped their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. UBS Group lifted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC upped their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

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.