Madrona Financial Services LLC Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

Madrona Financial Services LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.3% during the third quarter, Holdings Channel reports. The institutional investor owned 10,285 shares of the computer hardware maker’s stock after acquiring an additional 518 shares during the quarter. Madrona Financial Services LLC’s holdings in NVIDIA were worth $1,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares during the period. Legal & General Group Plc grew its position in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp grew its position in NVIDIA by 854.1% during the 2nd 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 last quarter. Ameriprise Financial Inc. grew its position in NVIDIA by 870.3% during the 2nd 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 last quarter. Finally, Dimensional Fund Advisors LP grew its position in NVIDIA by 1,123.2% during the 2nd 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 last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 3.2 %

Shares of NVDA opened at $141.95 on Friday. The firm has a market cap of $3.48 trillion, a P/E ratio of 66.58, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89. The company has a 50 day simple moving average of $134.01 and a two-hundred day simple moving average of $122.06.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. On average, equities analysts expect that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is presently 1.88%.

NVIDIA declared that its board has approved a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent analyst reports. Benchmark increased their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday. Susquehanna increased their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Wedbush increased their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday. TD Cowen increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday. Four 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 stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was 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 directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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.