Lewis Asset Management LLC Has $13.09 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Lewis Asset Management LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 9.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 107,781 shares of the computer hardware maker’s stock after selling 11,462 shares during the quarter. NVIDIA comprises approximately 9.5% of Lewis Asset Management LLC’s investment portfolio, making the stock its 2nd largest position. Lewis Asset Management LLC’s holdings in NVIDIA were worth $13,089,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lantz Financial LLC raised its holdings in NVIDIA by 833.1% in the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after purchasing an additional 36,774 shares during the period. Vigilare Wealth Management raised its stake in NVIDIA by 924.1% during the 2nd quarter. Vigilare Wealth Management now owns 11,705 shares of the computer hardware maker’s stock worth $1,446,000 after buying an additional 10,562 shares during the period. Bridge Creek Capital Management LLC lifted its holdings in NVIDIA by 821.9% during the second 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 in the last quarter. Delta Financial Group Inc. grew its stake in NVIDIA by 954.6% in 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 acquiring an additional 36,246 shares during the period. 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 worth $1,040,000 after acquiring an additional 7,555 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 3.1 %

NVDA stock opened at $134.70 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The business has a 50 day simple moving average of $139.63 and a two-hundred day simple moving average of $127.32. The company has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating 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 company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. Research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

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

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

Insider Buying and Selling

In related news, 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 $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock worth $201,687,727 over the last three months. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research reports. Phillip Securities reissued an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Benchmark boosted 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, November 21st. The Goldman Sachs Group increased their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company boosted their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Get Our Latest Research Report on NVIDIA

NVIDIA Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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