ARS Wealth Advisors Group LLC Grows Stock Position in NVIDIA Corporation $NVDA

ARS Wealth Advisors Group LLC increased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 127.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,551 shares of the computer hardware maker’s stock after buying an additional 36,676 shares during the quarter. NVIDIA comprises approximately 1.2% of ARS Wealth Advisors Group LLC’s holdings, making the stock its 27th largest holding. ARS Wealth Advisors Group LLC’s holdings in NVIDIA were worth $12,231,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Harbor Asset Planning Inc. bought a new position in NVIDIA during the 2nd quarter valued at about $28,000. Winnow Wealth LLC purchased a new position in shares of NVIDIA during the second quarter valued at approximately $32,000. Longfellow Investment Management Co. LLC boosted its position in shares of NVIDIA by 47.9% during the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after buying an additional 67 shares during the period. Spurstone Advisory Services LLC bought a new position in shares of NVIDIA during the second quarter valued at approximately $40,000. Finally, EDENTREE ASSET MANAGEMENT Ltd purchased a new stake in shares of NVIDIA in the second quarter worth approximately $54,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 1.9%

NASDAQ NVDA opened at $174.14 on Friday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $212.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. The company has a market capitalization of $4.23 trillion, a price-to-earnings ratio of 43.21, a price-to-earnings-growth ratio of 0.84 and a beta of 2.29. The company’s 50-day simple moving average is $185.63 and its two-hundred day simple moving average is $174.62.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.07. The firm had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The company’s revenue was up 62.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. Equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s dividend payout ratio (DPR) is 0.99%.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 350,000 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $181.73, for a total value of $63,605,500.00. Following the completion of the transaction, the director directly owned 7,049,803 shares of the company’s stock, valued at approximately $1,281,160,699.19. The trade was a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $181.01, for a total value of $13,575,750.00. Following the sale, the chief executive officer directly owned 70,258,203 shares in the company, valued at approximately $12,717,437,325.03. The trade was a 0.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,163,974 shares of company stock valued at $396,087,917. 4.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Truist Financial boosted their price objective on NVIDIA from $228.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of NVIDIA from $180.00 to $215.00 and gave the company a “hold” rating in a research note on Thursday, November 20th. HSBC set a $320.00 price target on shares of NVIDIA and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Loop Capital boosted their price objective on shares of NVIDIA from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Raymond James Financial set a $272.00 target price on shares of NVIDIA and gave the stock a “strong-buy” rating in a research note on Thursday, November 20th. Five analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NVIDIA has an average rating of “Buy” and a consensus target price of $261.67.

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.