Castle Wealth Management LLC Buys 268 Shares of NVIDIA Co. (NASDAQ:NVDA)

Castle Wealth Management LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.1% during the third quarter, Holdings Channel.com reports. The fund owned 12,884 shares of the computer hardware maker’s stock after purchasing an additional 268 shares during the quarter. Castle Wealth Management LLC’s holdings in NVIDIA were worth $1,565,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NVDA. Droms Strauss Advisors Inc. MO ADV lifted its holdings in NVIDIA by 2.1% during the third quarter. Droms Strauss Advisors Inc. MO ADV now owns 6,366 shares of the computer hardware maker’s stock worth $773,000 after acquiring an additional 130 shares during the period. Olympiad Research LP bought a new stake in shares of NVIDIA during the 3rd quarter worth $328,000. Principal Financial Group Inc. boosted its holdings in shares of NVIDIA by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker’s stock worth $4,326,576,000 after buying an additional 1,285,897 shares during the last quarter. Montecito Bank & Trust grew its position in NVIDIA by 0.6% during the third quarter. Montecito Bank & Trust now owns 221,735 shares of the computer hardware maker’s stock valued at $26,927,000 after buying an additional 1,231 shares during the period. Finally, Woodmont Investment Counsel LLC increased its holdings in NVIDIA by 2.4% during the third quarter. Woodmont Investment Counsel LLC now owns 17,669 shares of the computer hardware maker’s stock worth $2,146,000 after buying an additional 422 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NVDA shares. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Barclays raised their target price on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Stifel Nicolaus upped their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Redburn Atlantic initiated coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the completion of 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 1,556,986 shares of company stock worth $201,687,727 over the last quarter. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Up 3.1 %

Shares of NVDA opened at $134.70 on Friday. The stock has a market capitalization of $3.30 trillion, a P/E ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. 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 firm has a fifty day simple moving average of $139.63 and a two-hundred day simple moving average of $127.32.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the business posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.