Cedar Point Capital Partners LLC Purchases 271 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cedar Point Capital Partners LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,886 shares of the computer hardware maker’s stock after buying an additional 271 shares during the quarter. Cedar Point Capital Partners LLC’s holdings in NVIDIA were worth $715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DHJJ Financial Advisors Ltd. raised 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 in the last quarter. CGC Financial Services LLC purchased a new position in NVIDIA in the 2nd quarter worth $26,000. Quest Partners LLC acquired a new stake in NVIDIA during the 2nd quarter valued at approximately $27,000. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the 3rd quarter valued at $27,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of NVIDIA in the second quarter worth $31,000. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,628,156 shares of company stock worth $197,995,077 in the last 90 days. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 1.7 %

NASDAQ NVDA opened at $132.00 on Tuesday. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The firm has a 50 day moving average of $139.84 and a two-hundred day moving average of $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. The stock has a market capitalization of $3.23 trillion, a PE ratio of 51.95, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, research analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

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

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Redburn Atlantic initiated coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. upped their price target on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

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.