Rockbridge Investment Management LCC Acquires 284 Shares of NVIDIA Co. (NASDAQ:NVDA)

Rockbridge Investment Management LCC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.8% in the third quarter, HoldingsChannel reports. The fund owned 5,207 shares of the computer hardware maker’s stock after purchasing an additional 284 shares during the quarter. Rockbridge Investment Management LCC’s holdings in NVIDIA were worth $632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. CGC Financial Services LLC purchased a new position in shares of NVIDIA in the second quarter worth $26,000. Quest Partners LLC bought a new stake in NVIDIA in the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA in the 3rd quarter worth $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA during the 2nd quarter valued at about $31,000. Finally, FPC Investment Advisory Inc. grew its position in shares of NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after purchasing an additional 261 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction 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 represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,391,886 shares of company stock worth $181,666,050 over the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $140.22 on Wednesday. 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 stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.18, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The business has a 50 day moving average of $139.66 and a 200-day moving average of $127.49.

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

NVIDIA announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

NVDA has been the topic of several recent research reports. Mizuho upped their price objective on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Benchmark increased their price target on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.