Retirement Guys Formula LLC Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Retirement Guys Formula LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 166.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,427 shares of the computer hardware maker’s stock after buying an additional 10,251 shares during the quarter. Retirement Guys Formula LLC’s holdings in NVIDIA were worth $1,995,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the period. Legal & General Group Plc increased its holdings in 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 worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased its holdings in NVIDIA by 854.1% during the 2nd 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 period. Ameriprise Financial Inc. increased its holdings in NVIDIA by 870.3% during the 2nd 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 period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 1.2 %

NVDA opened at $135.34 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a 50 day simple moving average of $135.26 and a 200-day simple moving average of $123.26. The stock has a market capitalization of $3.31 trillion, a P/E ratio of 53.26, a P/E/G ratio of 2.46 and a beta of 1.66. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed 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 yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on NVDA shares. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Monday, November 18th. Truist Financial increased their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Evercore ISI increased their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Stifel Nicolaus increased their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Citigroup increased their price objective on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the transaction, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,986 shares of company stock valued at $254,885,999 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

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.