Arrowroot Family Office LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Arrowroot Family Office LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.7% in the third quarter, HoldingsChannel reports. The firm owned 4,594 shares of the computer hardware maker’s stock after buying an additional 247 shares during the quarter. Arrowroot Family Office LLC’s holdings in NVIDIA were worth $558,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. Ironwood Wealth Management LLC. lifted its stake in shares of NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after buying an additional 5,695 shares during the period. Financial Guidance Group Inc. raised its holdings in NVIDIA by 900.0% in the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after acquiring an additional 3,240 shares during the last quarter. Rooted Wealth Advisors Inc. lifted its stake in shares of NVIDIA by 907.3% during the 2nd quarter. Rooted Wealth Advisors Inc. now owns 14,576 shares of the computer hardware maker’s stock worth $1,765,000 after purchasing an additional 13,129 shares during the period. New Millennium Group LLC boosted its holdings in shares of NVIDIA by 975.1% during the second quarter. New Millennium Group LLC now owns 147,763 shares of the computer hardware maker’s stock worth $18,255,000 after purchasing an additional 134,019 shares during the last quarter. Finally, Roger Wittlin Investment Advisory LLC grew its position in shares of NVIDIA by 900.0% in the second quarter. Roger Wittlin Investment Advisory LLC now owns 2,470 shares of the computer hardware maker’s stock valued at $305,000 after purchasing an additional 2,223 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Loop Capital reiterated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Melius Research increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wedbush raised their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Mizuho upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Redburn Atlantic began coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.27.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Up 3.5 %

Shares of NASDAQ:NVDA opened at $136.32 on Thursday. NVIDIA Co. has a 12-month low of $54.74 and a 12-month high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.34 trillion, a PE ratio of 53.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a fifty day simple moving average of $139.68 and a 200 day simple moving average of $128.82.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for 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%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. On average, equities research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

NVIDIA 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.