Avitas Wealth Management LLC Has $40.31 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Avitas Wealth Management LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 331,921 shares of the computer hardware maker’s stock after acquiring an additional 4,061 shares during the period. NVIDIA comprises 5.7% of Avitas Wealth Management LLC’s holdings, making the stock its 2nd largest position. Avitas Wealth Management LLC’s holdings in NVIDIA were worth $40,308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter worth about $26,000. Quest Partners LLC acquired a new stake in shares of NVIDIA in the second quarter valued at approximately $27,000. Finally, Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA during the third quarter valued at approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at approximately $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 1,556,986 shares of company stock valued at $188,359,199 in the last three months. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $135.07 on Wednesday. The business’s 50-day moving average is $138.51 and its 200-day moving average is $126.04. 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 company has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.18, a P/E/G ratio of 2.58 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $45.83 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm 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 company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. Equities research analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA declared that its board has approved a stock buyback program 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

NVDA has been the subject of a number of recent analyst reports. Robert W. Baird increased their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Melius Research lifted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Redburn Atlantic started coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

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.