Market Street Wealth Management Advisors LLC Buys 1,344 Shares of NVIDIA Co. (NASDAQ:NVDA)

Market Street Wealth Management Advisors LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 15.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,308 shares of the computer hardware maker’s stock after acquiring an additional 1,344 shares during the period. Market Street Wealth Management Advisors LLC’s holdings in NVIDIA were worth $1,252,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NVDA. University of Texas Texas AM Investment Management Co. grew its position 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 worth $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. boosted its stake in shares of NVIDIA by 914.1% in 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. grew its position in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares in the last quarter. Legal & General Group Plc raised its holdings in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd lifted its position in shares of NVIDIA by 1,106.0% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after acquiring an additional 488,148 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $145.89 on Thursday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.58 trillion, a price-to-earnings ratio of 68.49, a PEG ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $149.77. The business’s 50 day simple moving average is $133.00 and its 200 day simple moving average is $121.54.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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 return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s revenue was up 93.6% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA announced that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the 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 transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred 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 directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

NVDA has been the topic of a number of recent analyst reports. Mizuho raised their price target on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Melius Research boosted their target price 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. Robert W. Baird boosted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Morgan Stanley boosted their price target on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $154.63.

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.