Planning Capital Management Corp Buys 6,629 Shares of NVIDIA Co. (NASDAQ:NVDA)

Planning Capital Management Corp raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 124.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,964 shares of the computer hardware maker’s stock after purchasing an additional 6,629 shares during the quarter. Planning Capital Management Corp’s holdings in NVIDIA were worth $1,453,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the third quarter worth about $27,000. Quest Partners LLC purchased a new stake in NVIDIA in the second quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA in the second quarter worth about $31,000. FPC Investment Advisory Inc. lifted its position in shares of NVIDIA by 900.0% during the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after buying an additional 261 shares in the last quarter. Finally, West Financial Advisors LLC bought a new position in shares of NVIDIA during the 3rd quarter valued at approximately $36,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 0.4 %

NASDAQ NVDA opened at $137.49 on Tuesday. The firm has a market cap of $3.37 trillion, a PE ratio of 54.11, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $139.84 and a 200 day moving average price of $128.03.

NVIDIA (NASDAQ:NVDA) last issued 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Analyst Ratings Changes

A number of equities research analysts have commented on NVDA shares. Phillip Securities restated an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Stifel Nicolaus lifted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Citigroup lifted their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Finally, Barclays boosted their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,351,886 shares of company stock valued at $176,825,650 in the last ninety days. Company insiders own 4.23% of the company’s stock.

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.