Chesley Taft & Associates LLC Increases Stake in NVIDIA Co. (NVDA)

Chesley Taft & Associates LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,645 shares of the computer hardware maker’s stock after purchasing an additional 1,650 shares during the period. Chesley Taft & Associates LLC’s holdings in NVIDIA were worth $7,769,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Kwmg LLC acquired a new position in NVIDIA in the second quarter valued at approximately $105,000. Legacy Financial Advisors Inc. lifted its holdings in NVIDIA by 111.0% in the second quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock valued at $110,000 after buying an additional 233 shares during the period. Almanack Investment Partners LLC. acquired a new position in NVIDIA in the second quarter valued at approximately $127,000. Ropes Wealth Advisors LLC lifted its holdings in NVIDIA by 561.8% in the second quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock valued at $140,000 after buying an additional 500 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in NVIDIA in the second quarter valued at approximately $159,000. Institutional investors own 65.69% of the company’s stock.

Shares of NVDA stock traded up $10.66 during trading hours on Friday, hitting $245.79. 716,771 shares of the company were exchanged, compared to its average volume of 12,718,093. The company has a quick ratio of 6.66, a current ratio of 7.41 and a debt-to-equity ratio of 0.23. NVIDIA Co. has a 52 week low of $180.58 and a 52 week high of $292.76. The company has a market capitalization of $170.86 billion, a price-to-earnings ratio of 51.98, a P/E/G ratio of 3.68 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.28. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue was up 40.0% compared to the same quarter last year. On average, equities analysts expect that NVIDIA Co. will post 7.15 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Thursday, August 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Wednesday, August 29th. NVIDIA’s dividend payout ratio is 12.85%.

In other news, insider Michael Byron sold 11,257 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the completion of the sale, the insider now owns 81,414 shares of the company’s stock, valued at $21,488,411.16. 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 90,831 shares of the stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the sale, the executive vice president now directly owns 184,001 shares of the company’s stock, valued at approximately $53,240,689.35. The disclosure for this sale can be found here. Insiders have sold 113,707 shares of company stock valued at $32,347,973 in the last three months. 4.70% of the stock is owned by insiders.

Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Benchmark restated a “buy” rating and issued a $310.00 price objective (up from $280.00) on shares of NVIDIA in a report on Thursday, September 20th. Needham & Company LLC increased their price objective on shares of NVIDIA from $325.00 to $350.00 and gave the company a “buy” rating in a report on Friday, September 14th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Friday, October 5th. Finally, Evercore ISI increased their price objective on shares of NVIDIA from $300.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Ten analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $293.09.

About NVIDIA

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

Further Reading: Understanding Stock Ratings

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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