Foundation Wealth Management LLC Purchases Shares of 2,756 NVIDIA Co. (NASDAQ:NVDA)

Foundation Wealth Management LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the third quarter, HoldingsChannel.com reports. The firm acquired 2,756 shares of the computer hardware maker’s stock, valued at approximately $335,000.

A number of other large investors also recently modified their holdings of the business. Hoertkorn Richard Charles increased its stake in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after acquiring an additional 70 shares during the period. Total Wealth Planning LLC grew its holdings in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after purchasing an additional 78 shares in the last quarter. Boyd Watterson Asset Management LLC OH increased its position in shares of NVIDIA by 0.3% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares during the period. Pavion Blue Capital LLC raised its stake in NVIDIA by 0.4% in the third quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after purchasing an additional 80 shares in the last quarter. Finally, L. Roy Papp & Associates LLP lifted its position in NVIDIA by 2.5% during the third quarter. L. Roy Papp & Associates LLP now owns 3,471 shares of the computer hardware maker’s stock worth $422,000 after purchasing an additional 85 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Down 1.7 %

NVIDIA stock opened at $132.00 on Tuesday. The company has a market capitalization of $3.23 trillion, a PE ratio of 51.95, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The firm’s fifty day moving average is $139.84 and its 200 day moving average is $126.92. 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 announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on NVDA shares. Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Phillip Securities reissued an “accumulate” rating and issued a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Piper Sandler boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Finally, Truist Financial boosted their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four equities research 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction 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. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,156 shares of company stock worth $197,995,077 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

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.