Parisi Gray Wealth Management Buys 159 Shares of NVIDIA Co. (NASDAQ:NVDA)

Parisi Gray Wealth Management raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,477 shares of the computer hardware maker’s stock after purchasing an additional 159 shares during the period. NVIDIA comprises 5.0% of Parisi Gray Wealth Management’s holdings, making the stock its 4th largest position. Parisi Gray Wealth Management’s holdings in NVIDIA were worth $15,238,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA in the first quarter valued at approximately $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA in the first quarter valued at approximately $30,000. TCTC Holdings LLC acquired a new stake in NVIDIA in the first quarter valued at approximately $82,000. Finally, Slocum Gordon & Co LLP acquired a new stake in NVIDIA during the first quarter worth approximately $98,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 4.1 %

NASDAQ NVDA opened at $145.61 on Thursday. The business has a 50 day moving average price of $126.08 and a two-hundred day moving average price of $117.25. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $146.49. The stock has a market cap of $3.57 trillion, a PE ratio of 68.36, a P/E/G ratio of 1.43 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a share buyback plan 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the transaction, the chief executive officer now directly owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $104.83, for a total value of $12,579,600.00. Following the sale, the chief executive officer now owns 76,614,995 shares of the company’s stock, valued at approximately $8,031,549,925.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,276,270 shares of company stock valued at $267,363,927. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NVDA shares. Piper Sandler restated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Loop Capital reaffirmed a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. TD Cowen raised NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Robert W. Baird lifted 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. Finally, HSBC boosted their target price on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

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.