Hummer Financial Advisory Services Inc Purchases Shares of 4,295 NVIDIA Co. (NASDAQ:NVDA)

Hummer Financial Advisory Services Inc acquired a new position in NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,295 shares of the computer hardware maker’s stock, valued at approximately $522,000.

Other large investors have also recently made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the second quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. lifted 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 buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA in the 1st quarter worth $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA in the 2nd quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter valued at about $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 4.9 %

Shares of NASDAQ NVDA opened at $147.01 on Wednesday. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $149.77. The stock’s fifty day simple moving average is $132.42 and its two-hundred day simple moving average is $121.37. The stock has a market capitalization of $3.61 trillion, a PE ratio of 69.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the company posted $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. As a group, analysts expect that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA announced that its board has approved a stock buyback 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their position. The sale 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 dated 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 sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVDA. Bank of America increased their target price on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Loop Capital reiterated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. Raymond James upped their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Susquehanna increased their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.63.

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.