Accent Capital Management LLC Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Accent Capital Management LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 148,479 shares of the computer hardware maker’s stock after purchasing an additional 5,077 shares during the quarter. NVIDIA makes up approximately 10.4% of Accent Capital Management LLC’s holdings, making the stock its 3rd largest position. Accent Capital Management LLC’s holdings in NVIDIA were worth $18,033,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the third quarter worth about $27,000. Quest Partners LLC bought a new position in NVIDIA in the 2nd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the 2nd quarter worth about $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA during the third quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its position in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

NASDAQ NVDA opened at $138.31 on Friday. 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 capitalization of $3.39 trillion, a PE ratio of 54.43, a price-to-earnings-growth 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 company has a 50 day moving average price of $139.51 and a two-hundred day moving average price of $128.16.

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 the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. As a group, equities analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued 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 was Thursday, December 5th. NVIDIA’s dividend payout ratio is 1.57%.

Wall Street Analyst Weigh In

Several analysts recently commented on NVDA shares. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. The Goldman Sachs Group raised their price target on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Wells Fargo & Company upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. HSBC raised their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Piper Sandler upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated 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 owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,226,886 shares of company stock valued at $161,499,400. Corporate insiders own 4.23% of the company’s stock.

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.