Icon Wealth Advisors LLC Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Icon Wealth Advisors LLC grew its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 4.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 128,254 shares of the computer hardware maker's stock after acquiring an additional 5,923 shares during the period. NVIDIA accounts for approximately 1.3% of Icon Wealth Advisors LLC's investment portfolio, making the stock its 18th biggest position. Icon Wealth Advisors LLC's holdings in NVIDIA were worth $15,575,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of NVIDIA by 884.0% during 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 period. Bank of New York Mellon Corp lifted its stake 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 acquiring an additional 163,482,580 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NVIDIA by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker's stock valued at $21,908,236,000 after purchasing an additional 6,526,200 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in NVIDIA by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker's stock worth $17,738,630,000 after acquiring an additional 2,042,348 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Trading Down 1.1 %

Shares of NVDA stock traded down $1.47 on Tuesday, hitting $131.76. 194,671,724 shares of the company's stock traded hands, compared to its average volume of 234,869,000. The stock has a market capitalization of $3.23 trillion, a price-to-earnings ratio of 51.85, a P/E/G ratio of 2.43 and a beta of 1.64. The company's fifty day simple moving average is $139.84 and its 200 day simple moving average is $128.76. NVIDIA Co. has a one year low of $54.74 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during 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 revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. Equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's payout ratio is presently 1.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NVDA shares. TD Cowen upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, November 11th. Benchmark reiterated a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research note on Tuesday, January 7th. Truist Financial increased their price target on NVIDIA from $148.00 to $167.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Finally, Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a "buy" rating and a $178.00 price objective on the stock. Four research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $164.27.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 716 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last 90 days. 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.