28,783 Shares in NVIDIA Co. (NASDAQ:NVDA) Purchased by Mainstream Capital Management LLC

Mainstream Capital Management LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 28,783 shares of the computer hardware maker’s stock, valued at approximately $3,495,000. NVIDIA accounts for 3.0% of Mainstream Capital Management LLC’s holdings, making the stock its 7th largest position.

Other large investors also recently modified their holdings of the company. Keynote Financial Services LLC increased its position in NVIDIA by 37.3% during the third quarter. Keynote Financial Services LLC now owns 5,409 shares of the computer hardware maker’s stock worth $657,000 after acquiring an additional 1,469 shares during the period. Global Strategic Investment Solutions LLC increased its holdings in shares of NVIDIA by 5.9% during the 3rd quarter. Global Strategic Investment Solutions LLC now owns 21,681 shares of the computer hardware maker’s stock worth $2,633,000 after purchasing an additional 1,208 shares during the period. JB Capital LLC lifted its stake in shares of NVIDIA by 5.6% in the third quarter. JB Capital LLC now owns 37,157 shares of the computer hardware maker’s stock valued at $4,512,000 after buying an additional 1,983 shares during the period. Keudell Morrison Wealth Management grew its position in NVIDIA by 0.6% during the third quarter. Keudell Morrison Wealth Management now owns 20,706 shares of the computer hardware maker’s stock worth $2,515,000 after buying an additional 132 shares in the last quarter. Finally, Valley Brook Capital Group Inc. increased its stake in NVIDIA by 2.5% during the third quarter. Valley Brook Capital Group Inc. now owns 33,386 shares of the computer hardware maker’s stock valued at $4,054,000 after acquiring an additional 830 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NVDA shares. Melius Research lifted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Citigroup boosted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Wells Fargo & Company upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock worth $201,687,727 in the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $134.70 on Monday. The stock 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 1 year low of $47.32 and a 1 year high of $152.89. The stock has a market cap of $3.30 trillion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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

NVIDIA Announces Dividend

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

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes 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 believes its shares are undervalued.

About NVIDIA

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.