Summit Financial Wealth Advisors LLC Has $417,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Summit Financial Wealth Advisors LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 22.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,437 shares of the computer hardware maker’s stock after purchasing an additional 630 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in NVIDIA were worth $417,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of NVDA. Quest Partners LLC acquired a new position in shares of NVIDIA during the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the 3rd quarter worth $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the 2nd quarter valued at $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA during the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 3.0 %

NVIDIA stock opened at $135.91 on Friday. The company has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.49, a P/E/G ratio of 2.43 and a beta of 1.64. The firm has a 50-day moving average of $139.90 and a 200-day moving average of $128.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a one year low of $53.56 and a one year high of $153.13.

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

NVIDIA Announces Dividend

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

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research reports. Evercore ISI lifted their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Robert W. Baird increased their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. William Blair began coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Bank of America restated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.63.

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.