Conway Capital Management Inc. Buys Shares of 235,575 NVIDIA Co. (NASDAQ:NVDA)

Conway Capital Management Inc. bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 235,575 shares of the computer hardware maker’s stock, valued at approximately $28,608,000. NVIDIA accounts for about 13.9% of Conway Capital Management Inc.’s holdings, making the stock its 2nd biggest holding.

A number of other institutional investors have also made changes to their positions in NVDA. Christopher J. Hasenberg Inc acquired a new position in NVIDIA in the 3rd quarter valued at about $27,000. Quest Partners LLC purchased a new position in shares of NVIDIA in the second quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA in the second quarter valued at approximately $31,000. West Financial Advisors LLC purchased a new stake in NVIDIA during the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Up 3.1 %

NASDAQ:NVDA opened at $137.71 on Tuesday. The stock has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 54.20, a PEG ratio of 2.45 and a beta of 1.64. NVIDIA Co. has a 1 year low of $56.11 and a 1 year high of $153.13. The stock has a fifty day moving average price of $138.99 and a two-hundred day moving average price of $129.05. 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 posted its quarterly earnings results 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. The company had revenue of $35.08 billion during 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 company’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. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 in the last ninety days. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NVDA. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their target price on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Loop Capital restated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Stifel Nicolaus lifted their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.63.

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.