NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Chaney Capital Management Inc.

Chaney Capital Management Inc. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,424 shares of the computer hardware maker’s stock after acquiring an additional 131 shares during the period. NVIDIA accounts for approximately 0.5% of Chaney Capital Management Inc.’s portfolio, making the stock its 19th largest position. Chaney Capital Management Inc.’s holdings in NVIDIA were worth $902,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA in the 3rd quarter valued at $27,000. CGC Financial Services LLC acquired a new stake in NVIDIA during the 2nd quarter worth $26,000. Quest Partners LLC purchased a new position in NVIDIA during the 2nd quarter worth $27,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA in the second quarter valued at $31,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NVDA. Melius Research raised their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. DA Davidson lifted their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Raymond James boosted their target price on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Wells Fargo & Company increased their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Bank of America reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $130.39 on Wednesday. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The firm’s 50 day moving average is $139.79 and its two-hundred day moving average is $127.07. The company has a market cap of $3.19 trillion, a P/E ratio of 51.33, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. Analysts expect 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. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA declared that its board has approved a share repurchase program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,628,156 shares of company stock worth $197,995,077. Company 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.