McIlrath & Eck LLC Has $2.47 Million Position in NVIDIA Co. (NASDAQ:NVDA)

McIlrath & Eck LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 18.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,365 shares of the computer hardware maker’s stock after buying an additional 3,214 shares during the quarter. McIlrath & Eck LLC’s holdings in NVIDIA were worth $2,473,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NVDA. Hoertkorn Richard Charles increased its position in shares of NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after acquiring an additional 70 shares in the last quarter. Smart Portfolios LLC boosted its stake in NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC increased its holdings in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares in the last quarter. Total Wealth Planning LLC raised its stake in shares of NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after purchasing an additional 78 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH lifted its stake in NVIDIA by 0.3% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after acquiring an additional 80 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVDA shares. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. TD Cowen increased their price target on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barclays boosted their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC raised their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group boosted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $137.71 on Tuesday. The business’s 50-day moving average price is $138.99 and its 200-day moving average price is $129.05. The firm has a market capitalization of $3.37 trillion, a PE ratio of 54.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64. NVIDIA Co. has a 12 month low of $56.11 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.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 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 analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. Sell-side analysts forecast 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. Shareholders of record on Thursday, December 5th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The sale 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 NVIDIA stock in a transaction that occurred on Monday, December 16th. The stock was 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 in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % 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. 4.23% of the stock is currently owned by insiders.

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.