Philip James Wealth Mangement LLC Has $2.17 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Philip James Wealth Mangement LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 2.4% during the third quarter, HoldingsChannel reports. The firm owned 17,849 shares of the computer hardware maker’s stock after buying an additional 415 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in NVIDIA were worth $2,168,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lantz Financial LLC boosted its stake in NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after buying an additional 36,774 shares in the last quarter. Vigilare Wealth Management boosted its stake in NVIDIA by 924.1% in the second quarter. Vigilare Wealth Management now owns 11,705 shares of the computer hardware maker’s stock worth $1,446,000 after purchasing an additional 10,562 shares in the last quarter. Bridge Creek Capital Management LLC grew its holdings in NVIDIA by 821.9% during the 2nd quarter. Bridge Creek Capital Management LLC now owns 30,680 shares of the computer hardware maker’s stock worth $3,790,000 after acquiring an additional 27,352 shares during the last quarter. Delta Financial Group Inc. grew its stake in shares of NVIDIA by 954.6% during the second quarter. Delta Financial Group Inc. now owns 40,043 shares of the computer hardware maker’s stock valued at $4,947,000 after purchasing an additional 36,246 shares during the last quarter. Finally, PFG Private Wealth Management LLC increased its holdings in shares of NVIDIA by 872.4% in the second quarter. PFG Private Wealth Management LLC now owns 8,421 shares of the computer hardware maker’s stock valued at $1,040,000 after purchasing an additional 7,555 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NVDA shares. Wells Fargo & Company upped their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Raymond James lifted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. The Goldman Sachs Group raised their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Truist Financial upped their target price on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, DA Davidson raised their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $134.70 on Monday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The firm has a 50 day moving average of $139.63 and a 200 day moving average of $127.32. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 93.6% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

NVIDIA declared that its board has initiated 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares in the company, valued at $1,021,107,588.59. The trade was a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock worth $201,687,727 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

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.