Cahaba Wealth Management Inc. Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Cahaba Wealth Management Inc. boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,439 shares of the computer hardware maker’s stock after buying an additional 326 shares during the quarter. NVIDIA makes up approximately 0.3% of Cahaba Wealth Management Inc.’s portfolio, making the stock its 25th largest holding. Cahaba Wealth Management Inc.’s holdings in NVIDIA were worth $3,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sander Capital Advisors Inc. raised its holdings in NVIDIA by 36.3% in the 3rd quarter. Sander Capital Advisors Inc. now owns 42,088 shares of the computer hardware maker’s stock valued at $5,111,000 after acquiring an additional 11,218 shares during the last quarter. Kraft Asset Management LLC raised its holdings in NVIDIA by 21.3% in the 3rd quarter. Kraft Asset Management LLC now owns 3,969 shares of the computer hardware maker’s stock valued at $482,000 after acquiring an additional 696 shares during the last quarter. Clarity Wealth Advisors LLC increased its holdings in shares of NVIDIA by 1.5% during the 3rd quarter. Clarity Wealth Advisors LLC now owns 57,145 shares of the computer hardware maker’s stock worth $6,940,000 after buying an additional 841 shares during the last quarter. Gries Financial LLC increased its holdings in shares of NVIDIA by 63.9% during the 3rd quarter. Gries Financial LLC now owns 52,197 shares of the computer hardware maker’s stock worth $6,339,000 after buying an additional 20,350 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in shares of NVIDIA by 40.9% during the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 62,000 shares of the computer hardware maker’s stock worth $7,529,000 after buying an additional 18,000 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on NVDA. Benchmark lifted their target price on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday. Barclays raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday. Finally, Citigroup raised their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Down 3.2 %

NVIDIA stock opened at $141.95 on Monday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The stock has a 50 day moving average of $134.01 and a two-hundred day moving average of $122.51. The company has a current ratio of 4.10, a quick ratio of 3.79 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company 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 firm’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. As a group, research analysts expect that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction 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 sale, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by insiders.

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.