NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Magnus Financial Group LLC

Magnus Financial Group LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,614 shares of the computer hardware maker’s stock after purchasing an additional 3,284 shares during the quarter. Magnus Financial Group LLC’s holdings in NVIDIA were worth $4,082,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the 1st quarter worth about $27,000. HBC Financial Services PLLC acquired a new position in NVIDIA in the 1st quarter valued at about $30,000. TCTC Holdings LLC purchased a new position in NVIDIA in the 1st quarter valued at about $82,000. Finally, Delos Wealth Advisors LLC boosted its stake in shares of NVIDIA by 600.0% during 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 during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s 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 sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction 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 of the company’s stock, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $140.15 on Tuesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The business has a 50 day moving average price of $131.64 and a two-hundred day moving average price of $120.96. The firm has a market cap of $3.44 trillion, a PE ratio of 65.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during 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%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA declared that its board has initiated a share buyback program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVDA. Wedbush reissued an “outperform” rating and issued a $160.00 price objective (up previously from $138.00) on shares of NVIDIA in a research report on Thursday, November 14th. Raymond James increased their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Craig Hallum upped their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Citigroup raised their price target on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently 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.