Sittner & Nelson LLC Purchases 957 Shares of NVIDIA Co. (NASDAQ:NVDA)

Sittner & Nelson LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,018 shares of the computer hardware maker’s stock after buying an additional 957 shares during the quarter. NVIDIA makes up about 2.4% of Sittner & Nelson LLC’s investment portfolio, making the stock its 4th largest holding. Sittner & Nelson LLC’s holdings in NVIDIA were worth $5,467,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CGC Financial Services LLC bought a new position in NVIDIA during the second quarter valued at about $26,000. Quest Partners LLC acquired a new position in shares of NVIDIA during the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA in the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the second quarter worth approximately $31,000. Finally, FPC Investment Advisory Inc. grew its holdings in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after purchasing an additional 261 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the transaction, the director now owns 8,380,117 shares in the company, valued at $1,014,077,958.17. The trade was a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,556,986 shares of company stock worth $201,687,727. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 3.1 %

Shares of NVDA stock opened at $134.70 on Monday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.30 trillion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The business has a 50-day moving average price of $139.63 and a two-hundred day moving average price of $127.32. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a stock buyback program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is 1.57%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Raymond James lifted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Redburn Atlantic started coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Barclays lifted their price target on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Robert W. Baird increased their price objective on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

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.