Massachusetts Wealth Management Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Massachusetts Wealth Management grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 28.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,087 shares of the computer hardware maker’s stock after acquiring an additional 4,885 shares during the quarter. NVIDIA accounts for approximately 1.7% of Massachusetts Wealth Management’s holdings, making the stock its 17th biggest holding. Massachusetts Wealth Management’s holdings in NVIDIA were worth $2,682,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NVDA. China Universal Asset Management Co. Ltd. increased its stake in shares of NVIDIA by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after buying an additional 13,135 shares during the period. Fairview Capital Investment Management LLC increased its stake in shares of NVIDIA by 81.2% in the first quarter. Fairview Capital Investment Management LLC now owns 821 shares of the computer hardware maker’s stock worth $742,000 after buying an additional 368 shares during the period. Aristides Capital LLC purchased a new position in shares of NVIDIA in the first quarter worth $3,524,000. Manhattan West Asset Management LLC increased its stake in shares of NVIDIA by 17.0% in the first quarter. Manhattan West Asset Management LLC now owns 12,712 shares of the computer hardware maker’s stock worth $11,486,000 after buying an additional 1,843 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its stake in shares of NVIDIA by 11.6% in the first quarter. Mount Yale Investment Advisors LLC now owns 8,401 shares of the computer hardware maker’s stock worth $7,591,000 after buying an additional 872 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the transaction, the chief executive officer now owns 75,655,836 shares in the company, valued at $8,460,592,139.88. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,796,986 shares of company stock worth $214,418,399 in the last quarter. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James lifted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Monday, November 18th. DA Davidson boosted their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

NVDA opened at $145.14 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $3.55 trillion, a P/E ratio of 57.12, a P/E/G ratio of 2.51 and a beta of 1.63. The company’s 50-day simple moving average is $137.32 and its two-hundred day simple moving average is $124.90. NVIDIA Co. has a 52-week low of $45.27 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its board has approved a share repurchase 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

NVIDIA Dividend Announcement

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

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.