Farmers & Merchants Investments Inc. Buys 1,704 Shares of NVIDIA Co. (NASDAQ:NVDA)

Farmers & Merchants Investments Inc. grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 73,697 shares of the computer hardware maker’s stock after purchasing an additional 1,704 shares during the period. Farmers & Merchants Investments Inc.’s holdings in NVIDIA were worth $8,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA during the third quarter valued at approximately $27,000. CGC Financial Services LLC purchased a new stake in NVIDIA in the second quarter worth $26,000. Finally, Quest Partners LLC bought a new position in NVIDIA in the second quarter worth $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 2.7 %

NASDAQ:NVDA opened at $135.07 on Wednesday. The firm has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.18, a price-to-earnings-growth ratio of 2.58 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a fifty day moving average price of $138.51 and a 200-day moving average price of $126.04. NVIDIA Co. has a one year low of $45.83 and a one year high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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 return on equity of 114.83% and a net margin of 55.69%. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share. Sell-side analysts forecast that NVIDIA Co. will post 2.76 EPS for the current 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock worth $188,359,199 over the last three months. 4.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Wedbush lifted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Sanford C. Bernstein upped their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Raymond James raised their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Evercore ISI boosted their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA 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.