Eagle Wealth Strategies LLC Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

Eagle Wealth Strategies LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 10.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,334 shares of the computer hardware maker’s stock after acquiring an additional 883 shares during the quarter. NVIDIA accounts for 0.8% of Eagle Wealth Strategies LLC’s investment portfolio, making the stock its 16th largest position. Eagle Wealth Strategies LLC’s holdings in NVIDIA were worth $1,133,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in NVDA. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at about $27,000. HBC Financial Services PLLC purchased a new position in shares of NVIDIA in the 1st quarter valued at about $30,000. TCTC Holdings LLC acquired a new position in shares of NVIDIA during the first quarter worth about $82,000. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of NVIDIA during the first quarter worth approximately $98,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 0.8 %

Shares of NVIDIA stock opened at $147.63 on Monday. The company has a market cap of $3.62 trillion, a P/E ratio of 69.31, a PEG ratio of 1.56 and a beta of 1.66. The firm has a fifty day moving average of $127.27 and a two-hundred day moving average of $118.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the company posted $0.25 earnings per share. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the sale, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last quarter. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird lifted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Craig Hallum increased their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Needham & Company LLC raised their price target on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

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.