Brass Tax Wealth Management Inc. Acquires 985 Shares of NVIDIA Co. (NASDAQ:NVDA)

Brass Tax Wealth Management Inc. boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 53.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,845 shares of the computer hardware maker’s stock after purchasing an additional 985 shares during the quarter. Brass Tax Wealth Management Inc.’s holdings in NVIDIA were worth $346,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA in the 3rd quarter worth approximately $27,000. Quest Partners LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA in the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 0.1 %

NASDAQ:NVDA opened at $147.22 on Friday. NVIDIA Co. has a 1 year low of $59.94 and a 1 year 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 stock has a market cap of $3.61 trillion, a price-to-earnings ratio of 57.94, a PEG ratio of 2.54 and a beta of 1.64. The stock has a 50-day moving average price of $138.70 and a two-hundred day moving average price of $129.34.

NVIDIA (NASDAQ:NVDA) last posted 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The company’s revenue was up 93.6% on a year-over-year basis. As a group, equities analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date 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 1.57%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley raised their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft increased their target price on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. DA Davidson increased their target price on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Mizuho increased their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Wedbush increased their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.63.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was 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 $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 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.