NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Rather & Kittrell Inc.

Rather & Kittrell Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 1.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,884 shares of the computer hardware maker’s stock after purchasing an additional 107 shares during the period. Rather & Kittrell Inc.’s holdings in NVIDIA were worth $836,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter valued at $26,000. Quest Partners LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA during the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA during the 2nd quarter worth about $31,000. Finally, FPC Investment Advisory Inc. boosted its position in shares of NVIDIA by 900.0% in the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after acquiring an additional 261 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $140.22 on Wednesday. The business has a 50 day simple moving average of $139.66 and a 200-day simple moving average of $127.49. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its 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 55.69% and a return on equity of 114.83%. The firm 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 earnings per share. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, equities research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

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

Wall Street Analyst Weigh In

NVDA has been the subject of several research analyst reports. TD Cowen upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Phillip Securities restated an “accumulate” rating and set a $160.00 price target (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, Citigroup raised 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. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the completion of the sale, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,391,886 shares of company stock valued at $181,666,050. 4.23% of the stock is currently owned by 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.