TrinityPoint Wealth LLC Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

TrinityPoint Wealth LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 136,451 shares of the computer hardware maker’s stock after buying an additional 710 shares during the quarter. NVIDIA makes up about 2.4% of TrinityPoint Wealth LLC’s investment portfolio, making the stock its 8th largest holding. TrinityPoint Wealth LLC’s holdings in NVIDIA were worth $16,571,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. increased its position in NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after buying an additional 107,169 shares in the last quarter. Truepoint Inc. increased its stake in shares of NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares during the period. Blue Square Asset Management LLC lifted its stake in shares of NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after buying an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management boosted its holdings in NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVDA stock opened at $144.47 on Friday. The company’s 50-day simple moving average is $139.51 and its two-hundred day simple moving average is $128.16. 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 one year low of $47.51 and a one year high of $152.89. The company has a market capitalization of $3.54 trillion, a P/E ratio of 56.86, a P/E/G ratio of 2.43 and a beta of 1.63.

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

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,226,886 shares of company stock valued at $161,499,400. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Monday, November 18th. Truist Financial increased their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Phillip Securities reissued an “accumulate” rating and issued a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Finally, Wells Fargo & Company raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.