NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Klingman & Associates LLC

Klingman & Associates LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 21.3% during the third quarter, Holdings Channel.com reports. The firm owned 30,060 shares of the computer hardware maker’s stock after buying an additional 5,269 shares during the quarter. Klingman & Associates LLC’s holdings in NVIDIA were worth $3,650,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lantz Financial LLC increased its position in shares of NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after purchasing an additional 36,774 shares during the last quarter. WASHINGTON TRUST Co boosted its stake in NVIDIA by 849.2% during the second quarter. WASHINGTON TRUST Co now owns 728,910 shares of the computer hardware maker’s stock worth $90,050,000 after buying an additional 652,119 shares during the period. Wedmont Private Capital increased its position in shares of NVIDIA by 966.0% during the second quarter. Wedmont Private Capital now owns 338,214 shares of the computer hardware maker’s stock valued at $43,711,000 after acquiring an additional 306,487 shares during the last quarter. Roman Butler Fullerton & Co. raised its stake in shares of NVIDIA by 949.5% in the 2nd quarter. Roman Butler Fullerton & Co. now owns 128,128 shares of the computer hardware maker’s stock valued at $17,286,000 after acquiring an additional 115,920 shares during the period. Finally, JBR Co Financial Management Inc lifted its holdings in shares of NVIDIA by 919.5% in the 2nd quarter. JBR Co Financial Management Inc now owns 194,354 shares of the computer hardware maker’s stock worth $24,010,000 after acquiring an additional 175,291 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,391,886 shares of company stock worth $181,666,050 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on NVDA shares. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Melius Research boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. DA Davidson increased their target price on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Piper Sandler lifted their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Four equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $140.22 on Wednesday. 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 firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The firm’s fifty day moving average price is $139.66 and its 200 day moving average price is $127.49. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, sell-side analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a $0.01 dividend. 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 (DPR) is 1.57%.

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.