NVIDIA Co. (NASDAQ:NVDA) Stock Position Increased by Everence Capital Management Inc.

Everence Capital Management Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 905.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 625,840 shares of the computer hardware maker’s stock after buying an additional 563,584 shares during the period. NVIDIA accounts for 4.8% of Everence Capital Management Inc.’s holdings, making the stock its 3rd biggest position. Everence Capital Management Inc.’s holdings in NVIDIA were worth $76,002,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. lifted its holdings in NVIDIA by 28.3% during the third quarter. CarsonAllaria Wealth Management Ltd. now owns 4,357 shares of the computer hardware maker’s stock valued at $529,000 after purchasing an additional 960 shares in the last quarter. Clarus Group Inc. lifted its holdings in NVIDIA by 3.5% during the third quarter. Clarus Group Inc. now owns 35,766 shares of the computer hardware maker’s stock valued at $4,343,000 after purchasing an additional 1,207 shares in the last quarter. Financial Symmetry Inc lifted its holdings in NVIDIA by 3.2% during the third quarter. Financial Symmetry Inc now owns 5,653 shares of the computer hardware maker’s stock valued at $686,000 after purchasing an additional 175 shares in the last quarter. Castleview Partners LLC lifted its holdings in NVIDIA by 17.0% during the third quarter. Castleview Partners LLC now owns 6,548 shares of the computer hardware maker’s stock valued at $795,000 after purchasing an additional 950 shares in the last quarter. Finally, MBE Wealth Management LLC lifted its holdings in NVIDIA by 10.3% during the third quarter. MBE Wealth Management LLC now owns 12,716 shares of the computer hardware maker’s stock valued at $1,544,000 after purchasing an additional 1,186 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent research reports. Morgan Stanley increased their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Sanford C. Bernstein increased their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. The Goldman Sachs Group increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Westpark Capital raised their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’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 transaction, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,986 shares of company stock valued at $254,885,999. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $135.34 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.26, a PEG ratio of 2.46 and a beta of 1.66. The firm’s fifty day simple moving average is $135.26 and its 200-day simple moving average is $123.26. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s 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 EPS. As a group, equities analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Dividend Announcement

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

NVIDIA announced that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.