Able Wealth Management LLC Increases Stake in NVIDIA Corporation $NVDA

Able Wealth Management LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDAFree Report) by 134.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,314 shares of the computer hardware maker’s stock after acquiring an additional 3,043 shares during the quarter. Able Wealth Management LLC’s holdings in NVIDIA were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Harbor Asset Planning Inc. bought a new position in shares of NVIDIA in the second quarter worth about $28,000. Winnow Wealth LLC purchased a new stake in NVIDIA in the 2nd quarter worth approximately $32,000. Longfellow Investment Management Co. LLC increased its holdings in NVIDIA by 47.9% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 67 shares in the last quarter. Spurstone Advisory Services LLC bought a new stake in NVIDIA during the 2nd quarter worth approximately $40,000. Finally, EDENTREE ASSET MANAGEMENT Ltd purchased a new position in NVIDIA during the second quarter valued at approximately $54,000. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Rosenblatt Securities increased their price objective on shares of NVIDIA from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. BNP Paribas Exane raised their price objective on NVIDIA from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Loop Capital lifted their target price on NVIDIA from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of NVIDIA in a research report on Monday. Finally, Mizuho raised their price target on NVIDIA from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Five research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $262.14.

Get Our Latest Stock Analysis on NVIDIA

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $183.38, for a total value of $13,753,500.00. Following the sale, the chief executive officer directly owned 70,033,203 shares in the company, valued at approximately $12,842,688,766.14. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Debora Shoquist sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $184.65, for a total value of $14,772,000.00. Following the sale, the executive vice president directly owned 1,574,443 shares of the company’s stock, valued at $290,720,899.95. This represents a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,011,474 shares of company stock worth $368,486,742. Corporate insiders own 4.17% of the company’s stock.

Key NVIDIA News

Here are the key news stories impacting NVIDIA this week:

NVIDIA Trading Down 0.4%

NVDA stock opened at $187.54 on Wednesday. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $212.19. The stock has a market capitalization of $4.56 trillion, a price-to-earnings ratio of 46.54, a price-to-earnings-growth ratio of 0.92 and a beta of 2.29. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $186.36 and its two-hundred day simple moving average is $177.63.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.07. The firm had revenue of $57.01 billion during the quarter, compared to analyst estimates of $54.66 billion. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The business’s revenue was up 62.5% on a year-over-year basis. During the same quarter last year, the business earned $0.81 EPS. As a group, analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Thursday, December 4th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Thursday, December 4th. NVIDIA’s payout ratio is 0.99%.

About NVIDIA

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Read More

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDAFree Report).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.