Sterling Group Wealth Management LLC Has $407,000 Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Sterling Group Wealth Management LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 31.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,353 shares of the computer hardware maker’s stock after purchasing an additional 802 shares during the quarter. Sterling Group Wealth Management LLC’s holdings in NVIDIA were worth $407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Privium Fund Management UK Ltd acquired a new position in shares of NVIDIA during the 1st quarter worth about $2,635,000. Lifestyle Asset Management Inc. boosted its stake in shares of NVIDIA by 246.9% during the 1st quarter. Lifestyle Asset Management Inc. now owns 2,005 shares of the computer hardware maker’s stock worth $1,812,000 after buying an additional 1,427 shares during the last quarter. OMNI 360 Wealth Inc. boosted its stake in shares of NVIDIA by 6.0% during the 1st quarter. OMNI 360 Wealth Inc. now owns 513 shares of the computer hardware maker’s stock worth $464,000 after buying an additional 29 shares during the last quarter. JTC Employer Solutions Trustee Ltd boosted its stake in shares of NVIDIA by 1.0% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 14,897 shares of the computer hardware maker’s stock worth $13,453,000 after buying an additional 150 shares during the last quarter. Finally, Trust Co. of Oklahoma boosted its stake in shares of NVIDIA by 2.7% during the 1st quarter. Trust Co. of Oklahoma now owns 1,105 shares of the computer hardware maker’s stock worth $998,000 after buying an additional 29 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ NVDA opened at $148.88 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.65 trillion, a price-to-earnings ratio of 69.90, a P/E/G ratio of 1.43 and a beta of 1.66. The firm’s 50 day simple moving average is $126.08 and its 200 day simple moving average is $117.25. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $148.93.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

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

Analysts Set New Price Targets

NVDA has been the subject of a number of recent research reports. Wedbush restated an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. HSBC upped their target price on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Evercore ISI upped their target price on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Activity

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 0.00 % 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. In other NVIDIA 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 value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

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.