Palo Alto Wealth Advisors LLC Has $2.44 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Palo Alto Wealth Advisors LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 46.8% during the third quarter, HoldingsChannel reports. The fund owned 20,102 shares of the computer hardware maker’s stock after buying an additional 6,410 shares during the period. NVIDIA comprises about 1.0% of Palo Alto Wealth Advisors LLC’s investment portfolio, making the stock its 14th largest position. Palo Alto Wealth Advisors LLC’s holdings in NVIDIA were worth $2,441,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NVDA. Legal & General Group Plc grew its position in shares of NVIDIA by 884.0% in 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 acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp grew its stake in shares of NVIDIA by 854.1% in the second 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 acquiring an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. increased its position in NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP raised its holdings in NVIDIA by 1,123.2% in 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 acquiring an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after buying an additional 73,589,208 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $137.49 on Tuesday. The stock has a market cap of $3.37 trillion, a PE ratio of 54.11, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a fifty day moving average of $139.84 and a 200-day moving average of $128.03.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue was up 93.6% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NVDA shares. Robert W. Baird lifted their price target on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler upped their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Truist Financial raised their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Evercore ISI increased their price target on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Oppenheimer restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Four 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the transaction, the director now directly owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,351,886 shares of company stock worth $176,825,650 in the last 90 days. Company 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.