Polaris Wealth Advisory Group LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3,258.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 34,086 shares of the computer hardware maker’s stock after buying an additional 33,071 shares during the period. NVIDIA comprises about 1.7% of Polaris Wealth Advisory Group LLC’s portfolio, making the stock its 18th largest holding. Polaris Wealth Advisory Group LLC’s holdings in NVIDIA were worth $18,601,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of NVDA. Hoover Financial Advisors Inc. purchased a new position in shares of NVIDIA during the 2nd quarter valued at approximately $32,000. Avondale Wealth Management acquired a new stake in NVIDIA during the third quarter valued at $49,000. Atlantic Trust LLC increased its holdings in NVIDIA by 46.9% in the second quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock valued at $36,000 after buying an additional 30 shares in the last quarter. Ellevest Inc. raised its position in shares of NVIDIA by 256.7% in the second quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 77 shares during the period. Finally, Old North State Trust LLC acquired a new position in shares of NVIDIA in the third quarter worth about $59,000. 68.11% of the stock is owned by institutional investors and hedge funds.
NVDA has been the subject of several recent analyst reports. Credit Suisse Group restated a “buy” rating and issued a $620.00 price target on shares of NVIDIA in a research note on Tuesday, September 15th. BofA Securities boosted their price objective on NVIDIA from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Wells Fargo & Company increased their target price on NVIDIA from $535.00 to $605.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of NVIDIA from $405.00 to $450.00 and gave the company a “hold” rating in a research note on Thursday, August 20th. Finally, Royal Bank of Canada upped their price objective on shares of NVIDIA from $528.00 to $610.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-one have given a buy rating to the company. NVIDIA presently has a consensus rating of “Buy” and a consensus price target of $521.49.
NVDA stock opened at $552.46 on Friday. NVIDIA Co. has a one year low of $180.68 and a one year high of $589.07. The firm has a market cap of $340.87 billion, a PE ratio of 101.56, a PEG ratio of 4.10 and a beta of 1.55. The firm’s 50 day moving average price is $521.45 and its 200-day moving average price is $401.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.51 and a current ratio of 6.09.
NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.21. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The firm’s quarterly revenue was up 50.1% compared to the same quarter last year. Equities research analysts predict that NVIDIA Co. will post 6.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Wednesday, September 2nd were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 0.12%. NVIDIA’s payout ratio is currently 13.94%.
In other news, CEO Jen Hsun Huang sold 49,999 shares of NVIDIA stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $550.51, for a total value of $27,524,949.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 12,692 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $405.60, for a total value of $5,147,875.20. Following the completion of the sale, the executive vice president now owns 61,983 shares in the company, valued at approximately $25,140,304.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,320 shares of company stock valued at $87,129,970. 4.47% of the stock is currently owned by insiders.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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