Reliant Investment Management LLC Purchases Shares of 1,864 NVIDIA Co. (NASDAQ:NVDA)

Reliant Investment Management LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,864 shares of the computer hardware maker’s stock, valued at approximately $226,000.

Other large investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. grew 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 valued at $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA during the 1st quarter valued at approximately $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA during the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the 1st quarter valued at approximately $27,000. 65.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last quarter. 4.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent research reports. William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Loop Capital reiterated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Piper Sandler reissued an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a report on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, August 6th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Down 0.8 %

Shares of NVDA opened at $147.63 on Friday. 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 stock’s 50 day moving average is $127.27 and its two-hundred day moving average is $117.94. The firm has a market cap of $3.62 trillion, a P/E ratio of 69.25, a PEG ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $149.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. Analysts predict that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

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

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.