Chronos Wealth Management LLC Purchases 142 Shares of NVIDIA Co. (NASDAQ:NVDA)

Chronos Wealth Management LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,827 shares of the computer hardware maker’s stock after buying an additional 142 shares during the period. Chronos Wealth Management LLC’s holdings in NVIDIA were worth $222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Investment Advisors LLC raised its stake in shares of NVIDIA by 13.5% during the 3rd quarter. Capital Investment Advisors LLC now owns 349,268 shares of the computer hardware maker’s stock worth $42,415,000 after purchasing an additional 41,677 shares in the last quarter. Blue Trust Inc. increased its position in NVIDIA by 1,535.3% during the third quarter. Blue Trust Inc. now owns 232,150 shares of the computer hardware maker’s stock worth $28,680,000 after buying an additional 217,954 shares during the last quarter. Meridian Financial Partners LLC raised its stake in NVIDIA by 7.9% in the 3rd quarter. Meridian Financial Partners LLC now owns 23,587 shares of the computer hardware maker’s stock valued at $2,864,000 after acquiring an additional 1,723 shares during the period. IFG Advisors LLC lifted its holdings in NVIDIA by 7.2% during the 3rd quarter. IFG Advisors LLC now owns 25,823 shares of the computer hardware maker’s stock valued at $3,136,000 after purchasing an additional 1,736 shares during the last quarter. Finally, Mogy Joel R Investment Counsel Inc. lifted its stake in shares of NVIDIA by 0.3% during the 3rd quarter. Mogy Joel R Investment Counsel Inc. now owns 1,441,091 shares of the computer hardware maker’s stock worth $175,006,000 after buying an additional 3,670 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The sale 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 dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NVDA. Truist Financial increased their price objective on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Melius Research boosted their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company boosted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. Mizuho lifted their price target on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Piper Sandler lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $141.95 on Monday. The company’s fifty day moving average price is $134.01 and its 200-day moving average price is $122.51. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.79. The firm 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 released its 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 company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. On average, equities research analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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.