Strategic Advocates LLC Has $12.55 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Strategic Advocates LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 10.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,313 shares of the computer hardware maker’s stock after purchasing an additional 9,402 shares during the period. NVIDIA comprises approximately 4.5% of Strategic Advocates LLC’s holdings, making the stock its 8th biggest holding. Strategic Advocates LLC’s holdings in NVIDIA were worth $12,546,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Legal & General Group Plc increased its stake in shares of NVIDIA by 884.0% in the second 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 buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. lifted its position in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NVDA shares. Citigroup boosted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday. Piper Sandler boosted their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Bank of America reiterated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % 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. Also, Director Mark A. Stevens sold 165,100 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the transaction, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 3.2 %

NVDA opened at $141.95 on Friday. The stock has a market capitalization of $3.48 trillion, a P/E ratio of 55.89, a P/E/G ratio of 1.53 and a beta of 1.66. The company has a current ratio of 4.10, a quick ratio of 3.79 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89. The firm’s fifty day simple moving average is $134.01 and its 200 day simple moving average is $122.28.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, research analysts anticipate that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA declared that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

NVIDIA 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.