TruWealth Advisors LLC Has $23.99 Million Holdings in NVIDIA Corporation $NVDA

TruWealth Advisors LLC grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 194.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,572 shares of the computer hardware maker’s stock after buying an additional 84,836 shares during the quarter. NVIDIA makes up about 1.2% of TruWealth Advisors LLC’s investment portfolio, making the stock its 25th largest holding. TruWealth Advisors LLC’s holdings in NVIDIA were worth $23,989,000 at the end of the most recent reporting period.

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

NVIDIA Price Performance

NASDAQ:NVDA opened at $174.14 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. NVIDIA Corporation has a one year low of $86.62 and a one year high of $212.19. The company has a fifty day moving average price of $185.63 and a 200 day moving average price of $174.62. The stock has a market cap of $4.23 trillion, a P/E ratio of 43.21, a PEG ratio of 0.84 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The company had revenue of $57.01 billion for the quarter, compared to the consensus estimate of $54.66 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The business’s revenue was up 62.5% compared to the same quarter last year. Analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA’s dividend payout ratio is currently 0.99%.

Insider Transactions at NVIDIA

In related news, Director Harvey C. Jones sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $177.33, for a total value of $44,332,500.00. Following the completion of the transaction, the director owned 6,933,280 shares in the company, valued at $1,229,478,542.40. The trade was a 3.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Debora Shoquist sold 69,840 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $177.85, for a total value of $12,421,044.00. Following the transaction, the executive vice president directly owned 1,424,603 shares in the company, valued at approximately $253,365,643.55. This represents a 4.67% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,163,974 shares of company stock worth $396,087,917. Corporate insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of NVIDIA in a research note on Monday. Morgan Stanley increased their price target on NVIDIA from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, December 1st. Jefferies Financial Group restated a “buy” rating and issued a $250.00 price objective (up from $240.00) on shares of NVIDIA in a research note on Thursday, November 20th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of NVIDIA in a report on Tuesday, December 9th. Finally, Tigress Financial reiterated a “strong-buy” rating and issued a $350.00 target price (up from $280.00) on shares of NVIDIA in a research note on Thursday. Five research analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $261.67.

About NVIDIA

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.