Buckingham Capital Management Inc. Buys 62,789 Shares of NVIDIA Co. (NASDAQ:NVDA)

Buckingham Capital Management Inc. grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 41.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,790 shares of the computer hardware maker’s stock after buying an additional 62,789 shares during the period. NVIDIA accounts for about 3.0% of Buckingham Capital Management Inc.’s holdings, making the stock its 9th biggest holding. Buckingham Capital Management Inc.’s holdings in NVIDIA were worth $26,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Jupiter Wealth Management LLC lifted its stake in shares of NVIDIA by 5.5% in the 3rd quarter. Jupiter Wealth Management LLC now owns 63,987 shares of the computer hardware maker’s stock valued at $7,771,000 after purchasing an additional 3,360 shares during the period. Venturi Wealth Management LLC increased its holdings in NVIDIA by 118.9% in the third quarter. Venturi Wealth Management LLC now owns 221,024 shares of the computer hardware maker’s stock worth $26,841,000 after purchasing an additional 120,048 shares in the last quarter. Core Wealth Partners LLC lifted its stake in NVIDIA by 7.4% in the third quarter. Core Wealth Partners LLC now owns 21,323 shares of the computer hardware maker’s stock valued at $2,589,000 after buying an additional 1,476 shares during the period. Alaska Wealth Advisors boosted its holdings in shares of NVIDIA by 13.8% during the 3rd quarter. Alaska Wealth Advisors now owns 2,892 shares of the computer hardware maker’s stock worth $351,000 after buying an additional 350 shares in the last quarter. Finally, Weil Company Inc. grew its position in shares of NVIDIA by 17.6% during the 3rd quarter. Weil Company Inc. now owns 5,196 shares of the computer hardware maker’s stock worth $631,000 after buying an additional 778 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVDA stock opened at $137.01 on Friday. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The firm has a market capitalization of $3.36 trillion, a P/E ratio of 53.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a fifty day simple moving average of $139.97 and a two-hundred day simple moving average of $127.90. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping 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 analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 EPS. The company’s quarterly revenue was up 93.6% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,351,886 shares of company stock valued at $176,825,650. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVDA. William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. TD Cowen raised their target price on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Truist Financial upped their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Stifel Nicolaus boosted their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Four 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. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target 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.