Udine Wealth Management Inc. Purchases 1,591 Shares of NVIDIA Co. (NASDAQ:NVDA)

Udine Wealth Management Inc. lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,811 shares of the computer hardware maker’s stock after acquiring an additional 1,591 shares during the quarter. NVIDIA makes up approximately 1.0% of Udine Wealth Management Inc.’s holdings, making the stock its 25th biggest position. Udine Wealth Management Inc.’s holdings in NVIDIA were worth $1,434,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mezzasalma Advisors LLC boosted its stake in NVIDIA by 21.1% in the 1st quarter. Mezzasalma Advisors LLC now owns 13,013 shares of the computer hardware maker’s stock worth $11,758,000 after purchasing an additional 2,267 shares during the period. Kesler Norman & Wride LLC boosted its stake in NVIDIA by 76.1% in the 1st quarter. Kesler Norman & Wride LLC now owns 5,478 shares of the computer hardware maker’s stock worth $4,950,000 after purchasing an additional 2,368 shares during the period. Maryland State Retirement & Pension System boosted its stake in NVIDIA by 0.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 185,778 shares of the computer hardware maker’s stock worth $156,879,000 after purchasing an additional 1,181 shares during the period. American Institute for Advanced Investment Management LLP boosted its stake in NVIDIA by 5.1% in the 1st quarter. American Institute for Advanced Investment Management LLP now owns 826 shares of the computer hardware maker’s stock worth $746,000 after purchasing an additional 40 shares during the period. Finally, Benchmark Financial Wealth Advisors LLC boosted its stake in NVIDIA by 2.3% in the 1st quarter. Benchmark Financial Wealth Advisors LLC now owns 6,593 shares of the computer hardware maker’s stock worth $5,957,000 after purchasing an additional 150 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Down 0.8 %

Shares of NASDAQ:NVDA opened at $147.63 on Friday. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The stock has a market cap of $3.62 trillion, a price-to-earnings ratio of 69.25, a PEG ratio of 1.54 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $127.27 and a 200-day moving average price of $117.94.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The company 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%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. Equities analysts predict that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Tuesday, August 6th. Evercore ISI upped their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Finally, Raymond James upped their price objective on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Five equities research 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’s stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

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.