GSG Advisors LLC Acquires 2,593 Shares of NVIDIA Co. (NASDAQ:NVDA)

GSG Advisors LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,013 shares of the computer hardware maker’s stock after acquiring an additional 2,593 shares during the quarter. NVIDIA comprises 1.6% of GSG Advisors LLC’s holdings, making the stock its 14th biggest holding. GSG Advisors LLC’s holdings in NVIDIA were worth $4,799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. raised its position in NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after acquiring an additional 107,169 shares in the last quarter. Truepoint Inc. increased its stake in shares of NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares during the period. Blue Square Asset Management LLC lifted its stake in NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after purchasing an additional 10,136 shares during the last quarter. Finally, Narwhal Capital Management grew its holdings in NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after purchasing an additional 26,373 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 0.4 %

NVDA opened at $140.22 on Thursday. The company has a market cap of $3.43 trillion, a P/E ratio of 55.18, a PEG ratio of 2.43 and a beta of 1.64. 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 company’s 50 day moving average is $139.84 and its 200-day moving average is $127.62. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was up 93.6% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, 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 1,391,886 shares of company stock worth $181,666,050. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of several research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Needham & Company LLC raised their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. The Goldman Sachs Group lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Westpark Capital lifted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.