Summit Wealth Partners LLC Buys 200 Shares of NVIDIA Co. (NASDAQ:NVDA)

Summit Wealth Partners LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,859 shares of the computer hardware maker’s stock after purchasing an additional 200 shares during the period. Summit Wealth Partners LLC’s holdings in NVIDIA were worth $2,290,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NVDA. DHJJ Financial Advisors Ltd. boosted its stake in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. CGC Financial Services LLC purchased a new position in shares of NVIDIA during the 2nd quarter worth $26,000. Quest Partners LLC purchased a new position in shares of NVIDIA during the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA during the 3rd quarter worth $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of NVIDIA during the 2nd quarter worth $31,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $134.25 on Friday. The company has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The firm’s 50-day moving average is $139.76 and its 200 day moving average is $126.60. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. Research analysts predict that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVDA. Stifel Nicolaus lifted their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Truist Financial lifted their target price on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. UBS Group lifted their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,628,156 shares of company stock worth $197,995,077 in the last three months. Corporate insiders own 4.23% of the company’s stock.

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.