SPC Financial Inc. Buys 16,957 Shares of NVIDIA Co. (NASDAQ:NVDA)

SPC Financial Inc. increased its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 172.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,797 shares of the computer hardware maker's stock after purchasing an additional 16,957 shares during the quarter. SPC Financial Inc.'s holdings in NVIDIA were worth $3,254,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake 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 period. Legal & General Group Plc increased its stake 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 period. Bank of New York Mellon Corp increased 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 purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. increased its stake 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 period. Finally, Dimensional Fund Advisors LP increased its stake 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 period. Institutional investors own 65.27% of the company's stock.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company's stock, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company's stock, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company's stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $145.89 on Thursday. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm 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's 50 day moving average price is $133.00 and its two-hundred day moving average price is $121.54.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. The firm 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 company's quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. On average, equities analysts forecast that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent analyst reports. William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an "outperform" rating on the stock. Susquehanna lifted their price objective on NVIDIA from $160.00 to $180.00 and gave the stock a "positive" rating in a research note on Thursday, November 14th. Melius Research lifted their target price on NVIDIA from $165.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Mizuho lifted their target price on NVIDIA from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Finally, Benchmark reissued a "buy" rating and set a $170.00 target price on shares of NVIDIA in a research 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 stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.63.

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.