BetterWealth LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,776 shares of the computer hardware maker’s stock, valued at approximately $773,000. NVIDIA accounts for about 0.3% of BetterWealth LLC’s portfolio, making the stock its 24th largest position.
Other institutional investors also recently bought and sold shares of the company. Austin Asset Management Co Inc acquired a new position in NVIDIA during the third quarter worth about $207,000. Everett Harris & Co. CA increased its stake in shares of NVIDIA by 2.5% during the 3rd quarter. Everett Harris & Co. CA now owns 3,620 shares of the computer hardware maker’s stock worth $1,574,000 after purchasing an additional 88 shares in the last quarter. Clear Creek Financial Management LLC raised its position in shares of NVIDIA by 1.2% during the 3rd quarter. Clear Creek Financial Management LLC now owns 7,490 shares of the computer hardware maker’s stock worth $3,258,000 after purchasing an additional 92 shares during the last quarter. Ledge Wealth Management Inc. lifted its stake in NVIDIA by 25.9% in the 3rd quarter. Ledge Wealth Management Inc. now owns 1,171 shares of the computer hardware maker’s stock valued at $509,000 after buying an additional 241 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in NVIDIA by 0.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 101,053 shares of the computer hardware maker’s stock valued at $43,957,000 after buying an additional 899 shares during the last quarter. 64.79% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
NVDA has been the subject of a number of analyst reports. TD Cowen boosted their price target on NVIDIA from $600.00 to $700.00 and gave the stock an “outperform” rating in a report on Wednesday, October 11th. Wells Fargo & Company boosted their target price on shares of NVIDIA from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, November 22nd. BMO Capital Markets raised their price target on shares of NVIDIA from $600.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 22nd. Truist Financial lifted their price target on shares of NVIDIA from $668.00 to $674.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Finally, Oppenheimer reissued an “outperform” rating and set a $650.00 price objective on shares of NVIDIA in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $593.26.
View Our Latest Analysis on NVDA
NVIDIA Price Performance
NVDA stock opened at $531.40 on Wednesday. The stock has a 50-day simple moving average of $480.97 and a 200-day simple moving average of $456.70. The firm has a market cap of $1.31 trillion, a P/E ratio of 70.11, a price-to-earnings-growth ratio of 3.29 and a beta of 1.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.06 and a current ratio of 3.59. NVIDIA Co. has a 1 year low of $154.72 and a 1 year high of $543.25.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data on Tuesday, November 21st. The computer hardware maker reported $4.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.99. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $16.19 billion. NVIDIA had a net margin of 42.10% and a return on equity of 72.28%. The business’s quarterly revenue was up 205.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. On average, equities analysts predict that NVIDIA Co. will post 11.06 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Wednesday, December 6th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 2.11%.
Insider Transactions at NVIDIA
In other NVIDIA news, Director John Dabiri sold 218 shares of NVIDIA stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $484.99, for a total transaction of $105,727.82. Following the sale, the director now directly owns 2,183 shares in the company, valued at approximately $1,058,733.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, Director John Dabiri sold 218 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $484.99, for a total transaction of $105,727.82. Following the completion of the transaction, the director now directly owns 2,183 shares of the company’s stock, valued at approximately $1,058,733.17. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $483.18, for a total transaction of $4,831,800.00. Following the completion of the sale, the director now owns 989,831 shares in the company, valued at approximately $478,266,542.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,568 shares of company stock valued at $40,766,381. 3.99% 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, and internationally. The company’s 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
Read More
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA – Free Report).
Receive News & Ratings for NVIDIA Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NVIDIA and related companies with MarketBeat.com’s FREE daily email newsletter.