Denver Wealth Management Inc. Buys 302 Shares of NVIDIA Co. (NASDAQ:NVDA)

Denver Wealth Management Inc. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,724 shares of the computer hardware maker’s stock after purchasing an additional 302 shares during the quarter. Denver Wealth Management Inc.’s holdings in NVIDIA were worth $331,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bluesphere Advisors LLC boosted its position in shares of NVIDIA by 34.4% in the third quarter. Bluesphere Advisors LLC now owns 40,614 shares of the computer hardware maker’s stock valued at $4,932,000 after acquiring an additional 10,401 shares during the period. Berry Wealth Group LP raised its stake in NVIDIA by 0.9% during the 3rd quarter. Berry Wealth Group LP now owns 10,964 shares of the computer hardware maker’s stock valued at $1,331,000 after purchasing an additional 93 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in NVIDIA by 905.3% in the 3rd quarter. Everence Capital Management Inc. now owns 625,840 shares of the computer hardware maker’s stock valued at $76,002,000 after purchasing an additional 563,584 shares during the period. CarsonAllaria Wealth Management Ltd. grew its position in NVIDIA by 28.3% in the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 4,357 shares of the computer hardware maker’s stock worth $529,000 after purchasing an additional 960 shares during the last quarter. Finally, Clarus Group Inc. increased its holdings in shares of NVIDIA by 3.5% during the 3rd quarter. Clarus Group Inc. now owns 35,766 shares of the computer hardware maker’s stock worth $4,343,000 after purchasing an additional 1,207 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 1.2 %

NASDAQ NVDA opened at $135.34 on Thursday. The stock has a fifty day moving average of $135.26 and a 200-day moving average of $123.26. The stock has a market capitalization of $3.31 trillion, a P/E ratio of 53.26, a price-to-earnings-growth ratio of 2.46 and a beta of 1.66. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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 analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. On average, equities research analysts forecast that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. 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 1.57%.

Insider Buying and Selling

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,986 shares of company stock valued at $254,885,999 over the last three months. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Benchmark raised their price objective on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Melius Research raised their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC raised their price objective on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.15.

About NVIDIA

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.