NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Capstone Wealth Management Group LLC

Capstone Wealth Management Group LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 94.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,025 shares of the computer hardware maker’s stock after purchasing an additional 1,950 shares during the period. Capstone Wealth Management Group LLC’s holdings in NVIDIA were worth $489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Cascade Investment Group Inc. grew its position in NVIDIA by 57.6% in the 3rd quarter. Cascade Investment Group Inc. now owns 7,873 shares of the computer hardware maker’s stock valued at $956,000 after buying an additional 2,878 shares in the last quarter. Acorn Creek Capital LLC increased its holdings in shares of NVIDIA by 43.0% in the third quarter. Acorn Creek Capital LLC now owns 17,561 shares of the computer hardware maker’s stock valued at $2,133,000 after buying an additional 5,283 shares in the last quarter. EdgeRock Capital LLC lifted its stake in NVIDIA by 7.0% during the third quarter. EdgeRock Capital LLC now owns 32,252 shares of the computer hardware maker’s stock valued at $3,917,000 after buying an additional 2,108 shares in the last quarter. ERn Financial LLC lifted its position in shares of NVIDIA by 2.4% in the 3rd quarter. ERn Financial LLC now owns 46,664 shares of the computer hardware maker’s stock valued at $5,667,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Lynch & Associates IN boosted its position in shares of NVIDIA by 13.7% in the third quarter. Lynch & Associates IN now owns 7,324 shares of the computer hardware maker’s stock worth $889,000 after buying an additional 882 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated 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 owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of a number of research reports. Craig Hallum lifted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. HSBC boosted their price target on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. William Blair assumed coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.63.

NVIDIA Stock Performance

NASDAQ NVDA opened at $147.01 on Wednesday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $132.42 and its 200 day simple moving average is $121.37. The firm has a market capitalization of $3.61 trillion, a price-to-earnings ratio of 69.02, a P/E/G ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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 company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. 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 (DPR) is currently 1.88%.

NVIDIA 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.