NVIDIA Co. (NASDAQ:NVDA) Stake Lifted by Arrow Financial Corp

Arrow Financial Corp lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.8% in the 3rd quarter, Holdings Channel reports. The fund owned 184,943 shares of the computer hardware maker’s stock after buying an additional 1,525 shares during the period. NVIDIA comprises 2.1% of Arrow Financial Corp’s investment portfolio, making the stock its 13th biggest holding. Arrow Financial Corp’s holdings in NVIDIA were worth $22,459,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. CGC Financial Services LLC bought a new position in shares of NVIDIA during the 2nd quarter valued at about $26,000. Quest Partners LLC purchased a new stake in NVIDIA during the second quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA in the third quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the 2nd quarter worth approximately $31,000. Finally, FPC Investment Advisory Inc. lifted its stake in NVIDIA by 900.0% in the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after acquiring an additional 261 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Up 0.4 %

Shares of NVDA opened at $140.22 on Thursday. The business has a 50-day moving average of $139.84 and a 200 day moving average of $127.62. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market cap of $3.43 trillion, a P/E ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

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, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share. As a group, research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In related news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on 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 owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,391,886 shares of company stock worth $181,666,050 in the last 90 days. 4.23% of the stock is owned by company insiders.

Analyst Ratings Changes

NVDA has been the topic of a number of research reports. Stifel Nicolaus upped their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Raymond James lifted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Craig Hallum raised their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird upped their price target on NVIDIA from $150.00 to $190.00 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $164.15.

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.