Iron Horse Wealth Management LLC Acquires 87 Shares of NVIDIA Co. (NASDAQ:NVDA)

Iron Horse Wealth Management LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 17.4% during the third quarter, Holdings Channel.com reports. The firm owned 587 shares of the computer hardware maker’s stock after buying an additional 87 shares during the period. Iron Horse Wealth Management LLC’s holdings in NVIDIA were worth $71,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sterling Investment Counsel LLC raised its holdings in NVIDIA by 35.2% in the third quarter. Sterling Investment Counsel LLC now owns 38,588 shares of the computer hardware maker’s stock worth $4,686,000 after purchasing an additional 10,037 shares in the last quarter. BetterWealth LLC lifted its position in NVIDIA by 0.9% during the third quarter. BetterWealth LLC now owns 17,526 shares of the computer hardware maker’s stock valued at $2,128,000 after acquiring an additional 150 shares during the last quarter. Coston McIsaac & Partners boosted its stake in NVIDIA by 12.2% in the third quarter. Coston McIsaac & Partners now owns 1,040 shares of the computer hardware maker’s stock valued at $126,000 after acquiring an additional 113 shares in the last quarter. Litman Gregory Wealth Management LLC purchased a new position in NVIDIA in the third quarter worth $326,000. Finally, Altus Wealth Group LLC increased its position in shares of NVIDIA by 4.7% during the third quarter. Altus Wealth Group LLC now owns 18,636 shares of the computer hardware maker’s stock worth $2,263,000 after purchasing an additional 831 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 2.2 %

NVDA stock opened at $138.25 on Monday. The business’s 50-day moving average is $136.05 and its 200 day moving average is $124.11. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The stock has a market cap of $3.39 trillion, a price-to-earnings ratio of 54.43, a PEG ratio of 2.50 and a beta of 1.66. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations 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 business earned $0.38 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current fiscal 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 given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVDA. TD Cowen raised their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Citigroup raised their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Benchmark increased their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Wedbush lifted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Piper Sandler upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred 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 owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,036,986 shares of company stock valued at $240,602,399. Corporate insiders own 4.23% of the company’s stock.

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.