Hedeker Wealth LLC Purchases 84,099 Shares of NVIDIA Co. (NASDAQ:NVDA)

Hedeker Wealth LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 391.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,603 shares of the computer hardware maker’s stock after acquiring an additional 84,099 shares during the period. NVIDIA accounts for approximately 3.4% of Hedeker Wealth LLC’s investment portfolio, making the stock its 7th biggest holding. Hedeker Wealth LLC’s holdings in NVIDIA were worth $12,824,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new stake in NVIDIA in the second quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. increased its stake in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares in the last quarter. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the 2nd quarter valued at $26,000. Quest Partners LLC bought a new position in NVIDIA during the second quarter worth $27,000. Finally, Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the third quarter worth $27,000. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock worth $188,359,199 in the last quarter. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NVDA shares. Barclays upped their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. UBS Group increased their price target on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Westpark Capital boosted their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. Finally, Stifel Nicolaus boosted their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Four 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. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

NVDA opened at $135.07 on Wednesday. The firm has a 50-day moving average price of $138.51 and a 200-day moving average price of $126.04. NVIDIA Co. has a twelve month low of $45.83 and a twelve month high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.18, a PEG ratio of 2.58 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates 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 business earned $0.38 EPS. Equities analysts expect that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

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