NVIDIA Co. (NASDAQ:NVDA) is Wedmont Private Capital’s 10th Largest Position

Wedmont Private Capital raised its position in NVIDIA Co. (NASDAQ:NVDA) by 11.1% during the third quarter, Holdings Channel.com reports. The fund owned 375,802 shares of the computer hardware maker’s stock after purchasing an additional 37,588 shares during the quarter. NVIDIA accounts for approximately 2.7% of Wedmont Private Capital’s investment portfolio, making the stock its 10th largest position. Wedmont Private Capital’s holdings in NVIDIA were worth $47,997,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC grew its stake in shares of NVIDIA by 0.6% in the third quarter. Hexagon Capital Partners LLC now owns 58,798 shares of the computer hardware maker’s stock worth $7,140,000 after purchasing an additional 326 shares during the last quarter. CWM LLC lifted its holdings in NVIDIA by 7.7% in the 3rd quarter. CWM LLC now owns 2,538,205 shares of the computer hardware maker’s stock worth $308,240,000 after buying an additional 180,982 shares during the period. O Connor Financial Group LLC grew its position in shares of NVIDIA by 1.8% in the 3rd quarter. O Connor Financial Group LLC now owns 6,790 shares of the computer hardware maker’s stock worth $825,000 after buying an additional 122 shares during the last quarter. West Financial Advisors LLC purchased a new position in shares of NVIDIA during the third quarter valued at approximately $36,000. Finally, Gunderson Capital Management Inc. raised its holdings in shares of NVIDIA by 3.6% during the third quarter. Gunderson Capital Management Inc. now owns 118,442 shares of the computer hardware maker’s stock valued at $14,384,000 after acquiring an additional 4,165 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 0.8 %

Shares of NASDAQ:NVDA opened at $147.63 on Monday. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The stock has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 69.31, a PEG ratio of 1.56 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock’s 50-day simple moving average is $127.27 and its two-hundred day simple moving average is $118.19.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS 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 business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $150.00 price objective on shares of NVIDIA in a research report on Thursday, October 10th. Sanford C. Bernstein boosted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC raised their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Robert W. Baird upped their target price on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Mizuho raised their target price on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.07.

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.