Meadow Creek Wealth Advisors LLC Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Meadow Creek Wealth Advisors LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,752 shares of the computer hardware maker’s stock after buying an additional 778 shares during the quarter. NVIDIA makes up 4.2% of Meadow Creek Wealth Advisors LLC’s holdings, making the stock its 4th biggest holding. Meadow Creek Wealth Advisors LLC’s holdings in NVIDIA were worth $5,313,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter valued at $27,000. Lowe Wealth Advisors LLC bought a new stake in NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. Christopher J. Hasenberg Inc bought a new stake in NVIDIA in the third quarter valued at $27,000. Finally, CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the 2nd quarter worth about $26,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated 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 sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the sale, the chief executive officer now directly owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,036,986 shares of company stock valued at $240,602,399. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $138.25 on Friday. The stock has a market cap of $3.39 trillion, a PE ratio of 54.41, a PEG ratio of 2.45 and a beta of 1.66. The company’s fifty day moving average is $136.05 and its 200 day moving average is $123.90. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 net margin of 55.69% and a return on equity of 114.83%. The firm 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 company earned $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Research analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current year.

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

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVDA. Benchmark upped their target price on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Mizuho increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler increased their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Company 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.