NVIDIA Co. (NASDAQ:NVDA) Shares Bought by EdgeRock Capital LLC

EdgeRock Capital LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,252 shares of the computer hardware maker’s stock after purchasing an additional 2,108 shares during the quarter. NVIDIA comprises 2.8% of EdgeRock Capital LLC’s portfolio, making the stock its 9th largest position. EdgeRock Capital LLC’s holdings in NVIDIA were worth $3,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. boosted its stake in 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 purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in NVIDIA in the 1st quarter worth about $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the first quarter valued at approximately $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. The trade was a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 in the last three months. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Oppenheimer increased their price objective on NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Raymond James lifted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Westpark Capital upped their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Needham & Company LLC raised their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Robert W. Baird upped their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Price Performance

NASDAQ NVDA opened at $140.15 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 65.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The company has a 50 day simple moving average of $131.64 and a 200-day simple moving average of $120.96. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is currently 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.