Stonekeep Investments LLC Acquires 213 Shares of NVIDIA Co. (NASDAQ:NVDA)

Stonekeep Investments LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 19,494 shares of the computer hardware maker’s stock after purchasing an additional 213 shares during the period. NVIDIA accounts for 1.8% of Stonekeep Investments LLC’s investment portfolio, making the stock its 15th largest position. Stonekeep Investments LLC’s holdings in NVIDIA were worth $2,367,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA in the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the first quarter valued at $27,000. HBC Financial Services PLLC purchased a new stake in NVIDIA during the first quarter valued at about $30,000. TCTC Holdings LLC bought a new stake in NVIDIA during the first quarter worth about $82,000. Finally, Delos Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 600.0% in the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock worth $101,000 after purchasing an additional 96 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 over the last quarter. 4.23% of the stock is currently owned by insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $141.98 on Friday. The business has a fifty day moving average price of $130.18 and a 200-day moving average price of $119.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market capitalization of $3.48 trillion, a PE ratio of 66.66, a PEG ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA announced that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders 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 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is 1.88%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVDA. UBS Group boosted their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Mizuho boosted their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday. Melius Research increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wedbush reissued an “outperform” rating and issued a $160.00 price target (up from $138.00) on shares of NVIDIA in a research note on Thursday. Finally, TD Cowen raised NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.40.

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.