NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Dover Advisors LLC

Dover Advisors LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 24.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,900 shares of the computer hardware maker’s stock after purchasing an additional 570 shares during the period. Dover Advisors LLC’s holdings in NVIDIA were worth $352,000 as of its most recent SEC filing.

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

NVIDIA Trading Down 1.3 %

NASDAQ:NVDA opened at $140.15 on Tuesday. The company has a market capitalization of $3.44 trillion, a PE ratio of 65.74, a P/E/G ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The stock’s 50 day moving average price is $131.64 and its 200 day moving average price is $120.96. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, research analysts anticipate that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its board has initiated a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NVDA shares. HSBC raised their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Melius Research lifted their target price on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Craig Hallum boosted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, UBS Group increased their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have 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 $152.40.

Insider Transactions at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock worth $254,784,327. Company insiders own 4.23% of the company’s stock.

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.