Denver Wealth Management Inc. boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 12.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,724 shares of the computer hardware maker’s stock after purchasing an additional 302 shares during the period. Denver Wealth Management Inc.’s holdings in NVIDIA were worth $331,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bluesphere Advisors LLC lifted its holdings in NVIDIA by 34.4% during the third quarter. Bluesphere Advisors LLC now owns 40,614 shares of the computer hardware maker’s stock worth $4,932,000 after acquiring an additional 10,401 shares in the last quarter. Berry Wealth Group LP lifted its holdings in NVIDIA by 0.9% during the third quarter. Berry Wealth Group LP now owns 10,964 shares of the computer hardware maker’s stock worth $1,331,000 after acquiring an additional 93 shares in the last quarter. Everence Capital Management Inc. lifted its holdings in NVIDIA by 905.3% during the third quarter. Everence Capital Management Inc. now owns 625,840 shares of the computer hardware maker’s stock worth $76,002,000 after acquiring an additional 563,584 shares in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its holdings in NVIDIA by 28.3% during the third quarter. CarsonAllaria Wealth Management Ltd. now owns 4,357 shares of the computer hardware maker’s stock worth $529,000 after acquiring an additional 960 shares in the last quarter. Finally, Clarus Group Inc. lifted its holdings in shares of NVIDIA by 3.5% in the third quarter. Clarus Group Inc. now owns 35,766 shares of the computer hardware maker’s stock valued at $4,343,000 after purchasing an additional 1,207 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.
NVIDIA Price Performance
NVIDIA stock opened at $135.34 on Thursday. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89. The stock’s 50 day moving average is $135.26 and its 200-day moving average is $123.26. The company has a current ratio of 4.10, a quick ratio of 3.64 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 53.26, a PEG ratio of 2.46 and a beta of 1.66.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 currently 1.57%.
NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Robert W. Baird boosted their price target on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. HSBC boosted their price target on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Wells Fargo & Company boosted their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Sanford C. Bernstein boosted their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.
Check Out Our Latest Report on NVDA
Insider Activity at NVIDIA
In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s 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 completion of the sale, the insider now 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 ninety days, insiders sold 2,156,986 shares of company stock worth $254,885,999. Company insiders own 4.23% of the company’s stock.
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.
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