NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Canopy Partners LLC

Canopy Partners LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 49,294 shares of the computer hardware maker’s stock after acquiring an additional 567 shares during the period. NVIDIA accounts for 2.6% of Canopy Partners LLC’s holdings, making the stock its 11th biggest holding. Canopy Partners LLC’s holdings in NVIDIA were worth $5,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cerity Partners LLC increased its position in shares of NVIDIA by 21.1% in the third quarter. Cerity Partners LLC now owns 8,994,223 shares of the computer hardware maker’s stock valued at $1,088,186,000 after buying an additional 1,564,194 shares in the last quarter. Optivise Advisory Services LLC purchased a new position in NVIDIA during the third quarter worth approximately $1,588,000. Waddell & Associates LLC boosted its position in shares of NVIDIA by 1.6% during the 3rd quarter. Waddell & Associates LLC now owns 23,827 shares of the computer hardware maker’s stock valued at $2,894,000 after acquiring an additional 374 shares during the last quarter. Nicolet Advisory Services LLC boosted its holdings in NVIDIA by 5.6% in the 3rd quarter. Nicolet Advisory Services LLC now owns 88,378 shares of the computer hardware maker’s stock valued at $10,857,000 after purchasing an additional 4,715 shares during the last quarter. Finally, GenTrust LLC grew its position in NVIDIA by 9.4% in the third quarter. GenTrust LLC now owns 103,557 shares of the computer hardware maker’s stock worth $12,642,000 after acquiring an additional 8,885 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Redburn Atlantic began coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Needham & Company LLC raised their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Finally, Susquehanna upped their target price on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Four 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Trading Down 0.0 %

Shares of NVDA opened at $140.11 on Friday. The firm has a 50 day simple moving average of $139.89 and a 200-day simple moving average of $128.54. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.14, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. 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 $51.69 and a 1-year high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued 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 for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share. Equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared 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. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last 90 days. 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.