Berkshire Money Management Inc. Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Berkshire Money Management Inc. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,106 shares of the computer hardware maker’s stock after buying an additional 746 shares during the period. NVIDIA makes up about 0.2% of Berkshire Money Management Inc.’s portfolio, making the stock its 25th biggest holding. Berkshire Money Management Inc.’s holdings in NVIDIA were worth $1,713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NVDA. Legal & General Group Plc boosted its position in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its holdings in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. boosted its holdings in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP boosted its holdings in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NVDA shares. Susquehanna lifted their target price on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Needham & Company LLC lifted their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

Shares of NVDA stock opened at $141.95 on Friday. The stock has a market capitalization of $3.48 trillion, a PE ratio of 66.58, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89. The stock’s 50-day moving average price is $134.01 and its 200 day moving average price is $122.06. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Company insiders own 4.23% of the company’s stock.

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.