Boltwood Capital Management Buys 725 Shares of NVIDIA Co. (NASDAQ:NVDA)

Boltwood Capital Management raised its position in NVIDIA Co. (NASDAQ:NVDA) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,000 shares of the computer hardware maker’s stock after acquiring an additional 725 shares during the quarter. NVIDIA makes up 1.7% of Boltwood Capital Management’s investment portfolio, making the stock its 15th largest position. Boltwood Capital Management’s holdings in NVIDIA were worth $5,586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVDA. JLB & Associates Inc. bought a new position in shares of NVIDIA during the third quarter valued at approximately $233,000. First Community Trust NA lifted its position in shares of NVIDIA by 26.4% in the 3rd quarter. First Community Trust NA now owns 48,989 shares of the computer hardware maker’s stock worth $5,949,000 after purchasing an additional 10,219 shares during the period. Mid American Wealth Advisory Group Inc. boosted its stake in shares of NVIDIA by 5.2% during the 3rd quarter. Mid American Wealth Advisory Group Inc. now owns 2,266 shares of the computer hardware maker’s stock valued at $275,000 after purchasing an additional 112 shares in the last quarter. Abacus Planning Group Inc. increased its position in shares of NVIDIA by 20.2% during the third quarter. Abacus Planning Group Inc. now owns 33,929 shares of the computer hardware maker’s stock valued at $4,120,000 after buying an additional 5,698 shares during the period. Finally, Waller Financial Planning Group Inc. raised its stake in NVIDIA by 25.7% in the third quarter. Waller Financial Planning Group Inc. now owns 3,847 shares of the computer hardware maker’s stock worth $467,000 after buying an additional 786 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the transaction, the chief executive officer now owns 76,854,995 shares in the company, valued at $7,981,391,230.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,396,270 shares of company stock valued at $279,825,927 in the last 90 days. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NVDA. Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. KeyCorp upped their target price on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, August 6th. Raymond James boosted their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Mizuho increased their target price on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Performance

NVDA opened at $136.05 on Tuesday. The company has a 50 day simple moving average of $125.45 and a two-hundred day simple moving average of $116.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market cap of $3.34 trillion, a P/E ratio of 63.87, a PEG ratio of 1.40 and a beta of 1.66. NVIDIA Co. has a 1-year low of $44.90 and a 1-year high of $144.42.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. 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 dividend payout ratio is 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.