Code Waechter LLC Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Code Waechter LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,148 shares of the computer hardware maker’s stock, valued at approximately $747,000.

Several other large investors have also added to or reduced their stakes in the stock. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the 1st quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter valued at $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the 1st quarter valued at $30,000. TCTC Holdings LLC purchased a new stake in shares of NVIDIA in the 1st quarter worth about $82,000. Finally, Slocum Gordon & Co LLP bought a new position in shares of NVIDIA in the 1st quarter worth about $98,000. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NVDA. Wedbush restated an “outperform” rating and issued a $160.00 price objective (up previously from $138.00) on shares of NVIDIA in a report on Thursday. Robert W. Baird upped their price target on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Truist Financial lifted their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, August 6th. Finally, William Blair started coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. 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. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.40.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $146.76 on Friday. The stock has a market cap of $3.60 trillion, a P/E ratio of 68.84, a P/E/G ratio of 1.56 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock’s fifty day moving average is $129.39 and its 200 day moving average is $119.51. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Sell-side analysts anticipate that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA announced that its Board of Directors has approved a stock repurchase 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are 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 given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

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.