Capstone Wealth Management Group LLC Buys New Position in NVIDIA Co. (NASDAQ:NVDA)

Capstone Wealth Management Group LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,075 shares of the computer hardware maker’s stock, valued at approximately $256,000.

Other large investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the 1st quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the 1st quarter valued at approximately $27,000. HBC Financial Services PLLC acquired a new position in NVIDIA in the 1st quarter valued at approximately $30,000. Norwood Financial Corp acquired a new position in NVIDIA in the 1st quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners raised its holdings in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the sale, the director now owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,876,270 shares of company stock worth $333,061,527. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NVDA shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a report on Tuesday, October 8th. Needham & Company LLC increased their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Bank of America increased their target price on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird increased their target price on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Trading Up 0.8 %

NVIDIA stock opened at $138.00 on Monday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market capitalization of $3.39 trillion, a P/E ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67. The stock has a 50-day simple moving average of $121.88 and a 200 day simple moving average of $112.51.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company posted $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA Company Profile

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.