Beacon Investment Advisory Services Inc. Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Beacon Investment Advisory Services Inc. grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 352,004 shares of the computer hardware maker’s stock after acquiring an additional 15,087 shares during the quarter. NVIDIA accounts for approximately 1.8% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 14th biggest holding. Beacon Investment Advisory Services Inc.’s holdings in NVIDIA were worth $42,747,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NVDA. Quest Partners LLC bought a new position in shares of NVIDIA in the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the 2nd quarter valued at $31,000. West Financial Advisors LLC purchased a new stake in NVIDIA during the 3rd quarter valued at $36,000. Finally, DHJJ Financial Advisors Ltd. increased its position in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last three months. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVDA shares. Rosenblatt Securities reiterated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a report on Wednesday, January 8th. Redburn Atlantic initiated coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. HSBC cut their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday. Wedbush upped their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Barclays lifted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.27.

NVIDIA Stock Performance

NVDA stock opened at $136.32 on Thursday. The stock’s 50 day simple moving average is $139.68 and its 200 day simple moving average is $128.82. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $54.74 and a 12-month high of $153.13. The stock has a market capitalization of $3.34 trillion, a PE ratio of 53.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued 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 was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

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.