Rep. Pete Sessions Purchases Shares of NVIDIA Co. (NASDAQ:NVDA)

Representative Pete Sessions (R-Texas) recently bought shares of NVIDIA Co. (NASDAQ:NVDA). In a filing disclosed on November 01st, the Representative disclosed that they had bought between $1,001 and $15,000 in NVIDIA stock on November 1st. The trade occurred in the Representative’s “IRA ONE” account.

Representative Pete Sessions also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 9/16/2024.
• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 9/10/2024.
• Sold $1,001 – $15,000 in shares of Altria Group (NYSE:MO) on 9/10/2024.
• Purchased $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 9/9/2024.

NVIDIA Stock Up 0.5 %

Shares of NASDAQ:NVDA opened at $136.05 on Tuesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a twelve month low of $44.90 and a twelve month high of $144.42. The company has a market capitalization of $3.34 trillion, a PE ratio of 63.87, a P/E/G ratio of 1.40 and a beta of 1.66. The firm has a 50 day simple moving average of $125.45 and a 200-day simple moving average of $116.60.

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

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has authorized a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. UBS Group restated a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Benchmark reissued a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Westpark Capital lifted their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares during the period. Legal & General Group Plc raised its holdings in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its stake in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Ameriprise Financial Inc. grew its stake in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the completion of the transaction, the chief executive officer now owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the sale, the chief executive officer now directly owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the firm’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,396,270 shares of company stock valued at $279,825,927 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

About Representative SESSIONS

Pete Sessions (Republican Party) is a member of the U.S. House, representing Texas’ 17th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2025. Sessions (Republican Party) is running for re-election to the U.S. House to represent Texas’ 17th Congressional District. He declared candidacy for the Republican primary scheduled on March 5, 2024. Pete Sessions was born and lives in Waco, Texas. Sessions earned a B.S. from Southwestern University in 1978. Sessions’ career experience includes working as an executive with AT&T.

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.