Cullen Investment Group LTD. Has $13.57 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Cullen Investment Group LTD. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,764 shares of the computer hardware maker’s stock after buying an additional 5,044 shares during the quarter. NVIDIA comprises approximately 2.0% of Cullen Investment Group LTD.’s holdings, making the stock its 9th largest position. Cullen Investment Group LTD.’s holdings in NVIDIA were worth $13,573,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the first quarter valued at approximately $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter valued at about $27,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Up 2.8 %

NVIDIA stock opened at $139.91 on Wednesday. The firm has a market cap of $3.43 trillion, a PE ratio of 65.62, a P/E/G ratio of 1.43 and a beta of 1.66. 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 firm’s 50 day moving average price is $125.68 and its two-hundred day moving average price is $117.05. NVIDIA Co. has a twelve month low of $44.90 and a twelve month high of $144.42.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. On average, research analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has initiated a stock buyback 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent analyst reports. Craig Hallum increased their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Raymond James increased their target price on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Bank of America increased their target price on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Wedbush reiterated an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $104.83, for a total value of $12,579,600.00. Following the transaction, the chief executive officer now owns 76,614,995 shares in the company, valued at approximately $8,031,549,925.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,276,270 shares of company stock valued at $267,363,927. 4.23% of the stock is owned by corporate insiders.

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.