AAFMAA Wealth Management & Trust LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

AAFMAA Wealth Management & Trust LLC grew its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 36.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,531 shares of the computer hardware maker's stock after acquiring an additional 9,295 shares during the quarter. NVIDIA comprises about 1.8% of AAFMAA Wealth Management & Trust LLC's portfolio, making the stock its 14th largest position. AAFMAA Wealth Management & Trust LLC's holdings in NVIDIA were worth $4,193,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker's stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker's stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker's stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

NVDA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of NVIDIA from $115.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday, August 29th. Stifel Nicolaus increased their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday. Bank of America increased their target price on shares of NVIDIA from $165.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, October 18th. William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an "outperform" rating on the stock. Finally, Needham & Company LLC raised their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $154.63.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA Price Performance

NVIDIA stock opened at $145.89 on Thursday. The company's fifty day moving average price is $133.00 and its 200 day moving average price is $121.54. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The stock has a market capitalization of $3.58 trillion, a P/E ratio of 68.43, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly 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 net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $35.08 billion for the quarter, compared to analysts' expectations of $33.15 billion. During the same quarter last year, the company earned $0.38 EPS. The firm's revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

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.