Wedge Capital Management L L P NC Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Wedge Capital Management L L P NC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,393 shares of the computer hardware maker’s stock after buying an additional 569 shares during the quarter. Wedge Capital Management L L P NC’s holdings in NVIDIA were worth $3,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the 1st quarter valued at $27,000. HBC Financial Services PLLC purchased a new stake in NVIDIA during the 1st quarter valued at $30,000. TCTC Holdings LLC bought a new stake in NVIDIA in the 1st quarter worth $82,000. Finally, Delos Wealth Advisors LLC increased its position in shares of NVIDIA by 600.0% in the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock valued at $101,000 after acquiring an additional 96 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVDA has been the topic of several recent analyst reports. HSBC raised their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley raised their price target on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, Melius Research boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $141.98 on Monday. The business has a 50-day simple moving average of $130.97 and a two-hundred day simple moving average of $120.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 66.60, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating 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 previous year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. On average, analysts expect that NVIDIA Co. will post 2.67 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is 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.