Baskin Financial Services Inc. Purchases New Shares in NVIDIA Co. (NASDAQ:NVDA)

Baskin Financial Services Inc. acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,394 shares of the computer hardware maker’s stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PCG Wealth Advisors LLC raised its position in shares of NVIDIA by 7.6% during the third quarter. PCG Wealth Advisors LLC now owns 18,076 shares of the computer hardware maker’s stock worth $2,195,000 after acquiring an additional 1,271 shares during the last quarter. Transform Wealth LLC increased its position in NVIDIA by 40.0% in the third quarter. Transform Wealth LLC now owns 250,457 shares of the computer hardware maker’s stock worth $30,418,000 after purchasing an additional 71,534 shares during the period. Hummer Financial Advisory Services Inc bought a new stake in NVIDIA during the 3rd quarter worth about $522,000. McKinley Carter Wealth Services Inc. lifted its position in NVIDIA by 10.1% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 29,150 shares of the computer hardware maker’s stock valued at $3,540,000 after purchasing an additional 2,675 shares during the period. Finally, Peoples Financial Services CORP. boosted its stake in shares of NVIDIA by 14.3% in the 3rd quarter. Peoples Financial Services CORP. now owns 800 shares of the computer hardware maker’s stock valued at $97,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were 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 owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Down 0.8 %

NVDA stock opened at $145.89 on Thursday. The company has a market cap of $3.58 trillion, a price-to-earnings ratio of 68.49, a P/E/G ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The business has a 50 day moving average price of $133.00 and a two-hundred day moving average price of $121.54. 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 (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. Analysts anticipate that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a share repurchase 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 buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore ISI increased their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Mizuho raised their price target on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird upped their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Five investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.63.

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.