Greenup Street Wealth Management LLC Has $6.48 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Greenup Street Wealth Management LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 48.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,374 shares of the computer hardware maker's stock after acquiring an additional 17,492 shares during the period. NVIDIA makes up 1.3% of Greenup Street Wealth Management LLC's portfolio, making the stock its 18th largest holding. Greenup Street Wealth Management LLC's holdings in NVIDIA were worth $6,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Legal & General Group Plc lifted its position in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its stake in NVIDIA by 854.1% during 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 buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in NVIDIA by 870.3% during 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 buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker's stock valued at $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker's stock valued at $10,215,474,000 after buying an additional 73,589,208 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares of the company's stock, valued at approximately $1,021,107,588.59. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction on 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 completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last three months. Insiders own 4.23% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on NVDA shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday. Wedbush upped their price objective on NVIDIA from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on NVIDIA from $155.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday. Craig Hallum increased their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Finally, Stifel Nicolaus boosted their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $160.82.

NVIDIA Stock Down 1.3 %

NASDAQ:NVDA traded down $1.95 during trading hours on Friday, reaching $144.72. 40,488,000 shares of the stock were exchanged, compared to its average volume of 396,077,906. The stock has a market cap of $3.55 trillion, a PE ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The firm has a 50 day moving average of $133.55 and a 200 day moving average of $121.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 113.50% and a net margin of 55.04%. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. NVIDIA's quarterly revenue was up 93.6% on a year-over-year basis. On average, equities analysts expect that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA declared that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's payout ratio is 1.88%.

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.