Prosperity Financial Group Inc. raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 35.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 65,893 shares of the computer hardware maker’s stock after purchasing an additional 17,153 shares during the period. NVIDIA accounts for about 4.5% of Prosperity Financial Group Inc.’s investment portfolio, making the stock its 3rd biggest holding. Prosperity Financial Group Inc.’s holdings in NVIDIA were worth $8,002,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of NVDA. University of Texas Texas AM Investment Management Co. lifted its position in shares of 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 valued at $14,715,000 after acquiring an additional 107,169 shares in the last quarter. Truepoint Inc. lifted its position 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 valued at $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after acquiring an additional 208,362 shares in the last quarter. Blue Square Asset Management LLC lifted its position in shares of NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management lifted its position in shares of NVIDIA by 5.1% in the third 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 in the last quarter. Institutional investors own 65.27% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on NVDA. DA Davidson boosted their target price on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Stifel Nicolaus boosted their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Piper Sandler boosted their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Citigroup boosted their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four investment 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.63.
NVIDIA Stock Performance
NASDAQ NVDA opened at $135.91 on Friday. 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 $53.56 and a 1 year high of $153.13. The company has a market capitalization of $3.33 trillion, a PE ratio of 53.49, a P/E/G ratio of 2.43 and a beta of 1.64. The company has a fifty day moving average of $139.90 and a two-hundred day moving average of $128.66.
NVIDIA (NASDAQ:NVDA – Get Free Report) 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.
Insider Activity at NVIDIA
In other NVIDIA news, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % 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 worth $146,506,958 over the last 90 days. Company 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.
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