Allred Capital Management LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Allred Capital Management LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 6.5% during the third quarter, Holdings Channel reports. The institutional investor owned 2,871 shares of the computer hardware maker’s stock after buying an additional 175 shares during the quarter. NVIDIA comprises approximately 0.9% of Allred Capital Management LLC’s investment portfolio, making the stock its 24th largest holding. Allred Capital Management LLC’s holdings in NVIDIA were worth $1,553,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Lenox Wealth Advisors LLC grew its holdings in shares of NVIDIA by 10.6% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 208 shares of the computer hardware maker’s stock worth $113,000 after purchasing an additional 20 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of NVIDIA by 0.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 5,975 shares of the computer hardware maker’s stock worth $2,270,000 after purchasing an additional 22 shares during the period. Cable Hill Partners LLC grew its holdings in shares of NVIDIA by 1.9% during the 2nd quarter. Cable Hill Partners LLC now owns 1,350 shares of the computer hardware maker’s stock worth $513,000 after purchasing an additional 25 shares during the period. Vicus Capital grew its holdings in shares of NVIDIA by 1.9% during the 2nd quarter. Vicus Capital now owns 1,420 shares of the computer hardware maker’s stock worth $539,000 after purchasing an additional 26 shares during the period. Finally, Private Ocean LLC grew its holdings in shares of NVIDIA by 2.7% during the 2nd quarter. Private Ocean LLC now owns 1,037 shares of the computer hardware maker’s stock worth $393,000 after purchasing an additional 27 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Jen Hsun Huang sold 100,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $489.84, for a total transaction of $48,984,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,370,600 shares in the company, valued at approximately $671,374,704. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Tench Coxe sold 629 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $533.30, for a total value of $335,445.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 173,320 shares of company stock valued at $87,129,970. 4.47% of the stock is owned by company insiders.

NVDA has been the subject of a number of research reports. Oppenheimer boosted their target price on NVIDIA from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Monday, October 5th. Credit Suisse Group reiterated a “buy” rating and set a $620.00 target price on shares of NVIDIA in a report on Tuesday, September 15th. Citigroup boosted their price target on NVIDIA from $392.00 to $540.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Jefferies Financial Group boosted their price target on NVIDIA from $570.00 to $680.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Finally, Zacks Investment Research raised NVIDIA from a “sell” rating to a “hold” rating and set a $541.00 price target on the stock in a research report on Tuesday, September 15th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and thirty-one have issued a buy rating to the company’s stock. NVIDIA has an average rating of “Buy” and a consensus price target of $521.49.

NVDA stock opened at $552.46 on Friday. The firm has a market cap of $340.87 billion, a P/E ratio of 101.56, a P/E/G ratio of 4.10 and a beta of 1.55. The stock’s 50 day simple moving average is $521.45 and its 200 day simple moving average is $401.87. The company has a current ratio of 6.09, a quick ratio of 5.51 and a debt-to-equity ratio of 0.50. NVIDIA Co. has a 12-month low of $180.68 and a 12-month high of $589.07.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 19th. The computer hardware maker reported $2.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.21. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The firm’s revenue was up 50.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 EPS. On average, research analysts forecast that NVIDIA Co. will post 6.93 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Wednesday, September 2nd were paid a dividend of $0.16 per share. 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%.

NVIDIA 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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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