McBroom & Associates LLC Has $18.59 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

McBroom & Associates LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.4% during the third quarter, Holdings Channel.com reports. The fund owned 153,066 shares of the computer hardware maker’s stock after selling 3,735 shares during the period. NVIDIA comprises about 11.4% of McBroom & Associates LLC’s holdings, making the stock its largest holding. McBroom & Associates LLC’s holdings in NVIDIA were worth $18,588,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Waypoint Capital Advisors LLC raised its position in shares of NVIDIA by 6.0% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 15,336 shares of the computer hardware maker’s stock valued at $1,862,000 after acquiring an additional 862 shares during the period. Warren Street Wealth Advisors LLC increased its stake in NVIDIA by 9.9% in the third quarter. Warren Street Wealth Advisors LLC now owns 36,476 shares of the computer hardware maker’s stock valued at $4,430,000 after purchasing an additional 3,275 shares in the last quarter. Cadent Capital Advisors LLC raised its holdings in NVIDIA by 178.9% in the third quarter. Cadent Capital Advisors LLC now owns 13,068 shares of the computer hardware maker’s stock worth $1,587,000 after purchasing an additional 29,641 shares during the period. Embree Financial Group boosted its position in shares of NVIDIA by 7.6% during the third quarter. Embree Financial Group now owns 81,329 shares of the computer hardware maker’s stock worth $9,877,000 after purchasing an additional 5,729 shares in the last quarter. Finally, KFA Private Wealth Group LLC grew its holdings in shares of NVIDIA by 4.2% in the 3rd quarter. KFA Private Wealth Group LLC now owns 19,394 shares of the computer hardware maker’s stock valued at $2,355,000 after buying an additional 781 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley raised their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. HSBC lifted their price objective on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC increased their target price on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. The Goldman Sachs Group lifted their price target 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. Finally, Wedbush increased their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

NVIDIA stock opened at $136.02 on Tuesday. The stock has a fifty day moving average of $134.39 and a 200-day moving average of $122.84. The stock has a market capitalization of $3.33 trillion, a P/E ratio of 53.53, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts expect that NVIDIA Co. will post 2.73 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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 given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. 4.23% of the stock is owned by company insiders.

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.