Noesis Capital Mangement Corp Buys 1,038 Shares of NVIDIA Co. (NASDAQ:NVDA)

Noesis Capital Mangement Corp grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 9.7% during the third quarter, Holdings Channel.com reports. The fund owned 11,708 shares of the computer hardware maker’s stock after purchasing an additional 1,038 shares during the quarter. Noesis Capital Mangement Corp’s holdings in NVIDIA were worth $1,422,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NVDA. Legal & General Group Plc grew its stake in 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 worth $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp grew its stake in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. grew its stake in NVIDIA by 870.3% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of 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 worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Down 2.0 %

Shares of NASDAQ NVDA opened at $133.23 on Tuesday. The company’s 50-day simple moving average is $139.84 and its 200-day simple moving average is $128.76. NVIDIA Co. has a 52-week low of $54.74 and a 52-week high of $153.13. The firm has a market cap of $3.26 trillion, a price-to-earnings ratio of 52.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Equities analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated 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. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. HSBC lowered their price target on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Monday. UBS Group upped their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. TD Cowen upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. Four equities 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 company. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.27.

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.