FMB Wealth Management Purchases 5,645 Shares of NVIDIA Co. (NASDAQ:NVDA)

FMB Wealth Management grew its position in NVIDIA Co. (NASDAQ:NVDA) by 34.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,175 shares of the computer hardware maker’s stock after acquiring an additional 5,645 shares during the quarter. NVIDIA accounts for 1.5% of FMB Wealth Management’s portfolio, making the stock its 18th biggest holding. FMB Wealth Management’s holdings in NVIDIA were worth $2,693,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NVDA. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter valued at $26,000. Quest Partners LLC purchased a new stake in shares of NVIDIA during the second quarter valued at $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA in the 2nd quarter worth about $31,000. Finally, FPC Investment Advisory Inc. lifted its holdings in NVIDIA by 900.0% during the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after buying an additional 261 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’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 value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,391,886 shares of company stock worth $181,666,050 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Raymond James upped their price target on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Craig Hallum lifted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Westpark Capital upped their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Trading Up 0.4 %

Shares of NVIDIA stock opened at $140.22 on Thursday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a 50-day simple moving average of $139.84 and a 200 day simple moving average of $127.62. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

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

NVIDIA announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

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

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.