NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Chris Bulman Inc

Chris Bulman Inc raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.0% in the third quarter, HoldingsChannel.com reports. The firm owned 10,327 shares of the computer hardware maker’s stock after buying an additional 588 shares during the period. NVIDIA comprises about 0.9% of Chris Bulman Inc’s investment portfolio, making the stock its 29th biggest holding. Chris Bulman Inc’s holdings in NVIDIA were worth $1,254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after acquiring an additional 13,135 shares in the last quarter. Bahl & Gaynor Inc. boosted its stake in shares of NVIDIA by 3.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 4,573 shares of the computer hardware maker’s stock worth $4,132,000 after acquiring an additional 163 shares in the last quarter. Spreng Capital Management Inc. boosted its stake in shares of NVIDIA by 19.6% during the 1st quarter. Spreng Capital Management Inc. now owns 4,932 shares of the computer hardware maker’s stock worth $4,456,000 after acquiring an additional 807 shares in the last quarter. Penobscot Investment Management Company Inc. boosted its stake in shares of NVIDIA by 6.2% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 47,395 shares of the computer hardware maker’s stock worth $42,824,000 after acquiring an additional 2,765 shares in the last quarter. Finally, PAX Financial Group LLC boosted its stake in shares of NVIDIA by 3.6% during the 1st quarter. PAX Financial Group LLC now owns 1,289 shares of the computer hardware maker’s stock worth $1,165,000 after acquiring an additional 45 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,036,986 shares of company stock worth $240,602,399 over the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 2.2 %

NVIDIA stock opened at $138.25 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The business’s 50-day simple moving average is $136.05 and its 200-day simple moving average is $123.90. The firm has a market capitalization of $3.39 trillion, a PE ratio of 54.41, a PEG ratio of 2.45 and a beta of 1.66. NVIDIA Co. has a 52 week low of $45.01 and a 52 week 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 analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current year.

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

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company raised their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

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.