Burns Matteson Capital Management LLC Buys 4,351 Shares of NVIDIA Co. (NASDAQ:NVDA)

Burns Matteson Capital Management LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 27.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,420 shares of the computer hardware maker’s stock after purchasing an additional 4,351 shares during the period. NVIDIA makes up about 1.2% of Burns Matteson Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Burns Matteson Capital Management LLC’s holdings in NVIDIA were worth $2,480,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Code Waechter LLC bought a new stake in NVIDIA during the 3rd quarter worth about $747,000. McNamara Financial Services Inc. acquired a new stake in shares of NVIDIA during the 3rd quarter worth approximately $2,004,000. Total Wealth Planning LLC raised its stake in shares of NVIDIA by 3.6% during the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after buying an additional 78 shares during the last quarter. Perfromance Wealth Partners LLC lifted its holdings in NVIDIA by 2.7% in the third quarter. Perfromance Wealth Partners LLC now owns 1,306,313 shares of the computer hardware maker’s stock valued at $158,638,000 after buying an additional 33,953 shares during the period. Finally, Next Level Private LLC boosted its stake in NVIDIA by 15.8% in the third quarter. Next Level Private LLC now owns 3,365 shares of the computer hardware maker’s stock valued at $409,000 after acquiring an additional 460 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on NVDA shares. Loop Capital reiterated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Craig Hallum upped their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Mizuho upped their price target on NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Susquehanna increased their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Stock Up 0.3 %

NVDA stock opened at $146.76 on Friday. The company has a market cap of $3.60 trillion, a price-to-earnings ratio of 68.84, a P/E/G ratio of 1.56 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The business has a 50 day moving average price of $129.39 and a two-hundred day moving average price of $119.51. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 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.