NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Ridgewood Investments LLC

Ridgewood Investments LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 23.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,367 shares of the computer hardware maker’s stock after buying an additional 1,787 shares during the period. Ridgewood Investments LLC’s holdings in NVIDIA were worth $1,138,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. Cullen Investment Group LTD. grew its stake in shares of NVIDIA by 4.7% in the third quarter. Cullen Investment Group LTD. now owns 111,764 shares of the computer hardware maker’s stock valued at $13,573,000 after buying an additional 5,044 shares in the last quarter. Burns J W & Co. Inc. NY lifted its holdings in NVIDIA by 9.4% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 116,013 shares of the computer hardware maker’s stock worth $14,077,000 after buying an additional 9,969 shares in the last quarter. Trivant Custom Portfolio Group LLC lifted its holdings in NVIDIA by 0.6% in the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 75,251 shares of the computer hardware maker’s stock worth $9,138,000 after buying an additional 421 shares in the last quarter. Inspirion Wealth Advisors LLC lifted its holdings in NVIDIA by 9.4% in the 3rd quarter. Inspirion Wealth Advisors LLC now owns 9,625 shares of the computer hardware maker’s stock worth $1,169,000 after buying an additional 829 shares in the last quarter. Finally, Central Valley Advisors LLC lifted its holdings in NVIDIA by 4.1% in the 3rd quarter. Central Valley Advisors LLC now owns 27,291 shares of the computer hardware maker’s stock worth $3,314,000 after buying an additional 1,076 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 2.8 %

NVDA stock opened at $139.91 on Wednesday. The firm’s 50-day moving average is $125.68 and its two-hundred day moving average is $117.05. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 65.62, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. NVIDIA Co. has a 52 week low of $44.90 and a 52 week high of $144.42.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on 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 approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,276,270 shares of company stock worth $267,363,927 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NVDA has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price objective on shares of NVIDIA in a report on Thursday, October 10th. Sanford C. Bernstein raised their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Raymond James raised their price target on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. Finally, KeyCorp raised their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $143.07.

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.