Bernardo Wealth Planning LLC Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Bernardo Wealth Planning LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 19.7% during the third quarter, HoldingsChannel.com reports. The firm owned 9,569 shares of the computer hardware maker’s stock after purchasing an additional 1,573 shares during the period. Bernardo Wealth Planning LLC’s holdings in NVIDIA were worth $1,162,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NVDA. Madison Park Capital Advisors LLC grew its position in shares of NVIDIA by 2.4% in the third quarter. Madison Park Capital Advisors LLC now owns 4,230 shares of the computer hardware maker’s stock valued at $514,000 after purchasing an additional 100 shares during the period. Werba Rubin Papier Wealth Management boosted its holdings in NVIDIA by 30.0% in the 3rd quarter. Werba Rubin Papier Wealth Management now owns 36,552 shares of the computer hardware maker’s stock worth $4,439,000 after buying an additional 8,427 shares during the last quarter. CNB Bank increased its stake in NVIDIA by 8.2% during the 3rd quarter. CNB Bank now owns 94,254 shares of the computer hardware maker’s stock worth $11,446,000 after buying an additional 7,103 shares in the last quarter. Cedrus LLC raised its holdings in shares of NVIDIA by 1.7% during the third quarter. Cedrus LLC now owns 21,792 shares of the computer hardware maker’s stock valued at $2,646,000 after acquiring an additional 361 shares during the last quarter. Finally, Means Investment CO. Inc. lifted its position in shares of NVIDIA by 6.7% in the third quarter. Means Investment CO. Inc. now owns 240,107 shares of the computer hardware maker’s stock valued at $29,159,000 after acquiring an additional 15,036 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Up 0.7 %

NASDAQ NVDA opened at $136.92 on Wednesday. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The firm has a 50 day moving average of $134.82 and a two-hundred day moving average of $123.17. The stock has a market capitalization of $3.35 trillion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the firm earned $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, research analysts expect that NVIDIA Co. will post 2.73 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows 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 board of directors believes its shares are undervalued.

NVIDIA Dividend Announcement

The business also recently declared 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 of this dividend 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%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wedbush increased their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Stifel Nicolaus raised their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. UBS Group raised 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. Finally, Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA 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.