Shum Financial Group Inc. Makes New $2.24 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Shum Financial Group Inc. acquired a new position in 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 (SEC). The fund acquired 18,469 shares of the computer hardware maker’s stock, valued at approximately $2,243,000. NVIDIA makes up about 1.9% of Shum Financial Group Inc.’s investment portfolio, making the stock its 16th biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc raised its position in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in NVIDIA by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after purchasing an additional 2,042,348 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in NVIDIA by 3.5% in the third quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock valued at $11,745,763,000 after purchasing an additional 3,283,380 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on NVDA shares. JPMorgan Chase & Co. upped their price objective on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Evercore ISI upped their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wedbush increased their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Finally, Wells Fargo & Company increased their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Performance

NVDA opened at $135.91 on Friday. NVIDIA Co. has a 12-month low of $53.56 and a 12-month high of $153.13. The stock has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.49, a PEG ratio of 2.43 and a beta of 1.64. The business has a 50 day moving average of $139.90 and a 200-day moving average of $128.68. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue was up 93.6% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. The ex-dividend date was 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 currently 1.57%.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. 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 that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company’s stock.

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.