16,500 Shares in NVIDIA Co. (NASDAQ:NVDA) Purchased by McNamara Financial Services Inc.

McNamara Financial Services Inc. bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,500 shares of the computer hardware maker’s stock, valued at approximately $2,004,000. NVIDIA accounts for 0.4% of McNamara Financial Services Inc.’s investment portfolio, making the stock its 18th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the 1st quarter valued at about $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the first quarter worth approximately $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on NVDA shares. TD Cowen raised NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Piper Sandler raised their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Robert W. Baird lifted their target price on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Benchmark reiterated a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Mizuho lifted their target price on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Trading Up 0.3 %

NASDAQ:NVDA opened at $146.76 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 68.84, a PEG ratio of 1.56 and a beta of 1.66. The business’s 50-day moving average price is $129.39 and its two-hundred day moving average price is $119.51. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The company’s revenue was up 122.4% on a year-over-year basis. On average, equities analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

About NVIDIA

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.