Beech Hill Advisors Inc. Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Beech Hill Advisors Inc. raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 450.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,735 shares of the computer hardware maker's stock after purchasing an additional 8,785 shares during the period. Beech Hill Advisors Inc.'s holdings in NVIDIA were worth $1,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in NVDA. Legal & General Group Plc raised its position in 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 purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its stake in shares of NVIDIA by 854.1% during the 2nd 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 in the last quarter. Ameriprise Financial Inc. grew its stake in shares of 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 acquiring an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in 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 worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of NVIDIA by 808.6% in the second 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 purchasing an additional 73,589,208 shares during the period. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of a number of research reports. Westpark Capital boosted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Citigroup upped their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday. Raymond James raised 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. Finally, Wells Fargo & Company boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $160.82.

NVIDIA Stock Performance

NVDA stock traded down $1.95 during mid-day trading on Friday, hitting $144.72. 40,488,000 shares of the company were exchanged, compared to its average volume of 396,077,906. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The stock has a market capitalization of $3.55 trillion, a PE ratio of 68.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The business has a 50 day simple moving average of $133.55 and a 200-day simple moving average of $121.72. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly 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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm's revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. On average, equities analysts forecast that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid 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 yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.88%.

NVIDIA declared that its board has authorized a stock buyback program 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

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

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.