NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Hurlow Wealth Management Group Inc.

Hurlow Wealth Management Group Inc. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 8.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,848 shares of the computer hardware maker’s stock after acquiring an additional 232 shares during the quarter. Hurlow Wealth Management Group Inc.’s holdings in NVIDIA were worth $346,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. IMZ Advisory Inc lifted its holdings in NVIDIA by 1.6% in the third quarter. IMZ Advisory Inc now owns 18,542 shares of the computer hardware maker’s stock valued at $2,316,000 after acquiring an additional 294 shares during the period. Cypress Financial Planning LLC lifted its holdings in NVIDIA by 5.9% in the third quarter. Cypress Financial Planning LLC now owns 2,570 shares of the computer hardware maker’s stock valued at $312,000 after acquiring an additional 144 shares during the period. Sterling Group Wealth Management LLC lifted its holdings in NVIDIA by 31.4% in the third quarter. Sterling Group Wealth Management LLC now owns 3,353 shares of the computer hardware maker’s stock valued at $407,000 after acquiring an additional 802 shares during the period. Cohen Investment Advisors LLC lifted its holdings in NVIDIA by 505.6% in the third quarter. Cohen Investment Advisors LLC now owns 2,907 shares of the computer hardware maker’s stock valued at $353,000 after acquiring an additional 2,427 shares during the period. Finally, Oak Asset Management LLC lifted its holdings in NVIDIA by 0.6% in the third quarter. Oak Asset Management LLC now owns 98,068 shares of the computer hardware maker’s stock valued at $11,909,000 after acquiring an additional 588 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 2.2 %

NASDAQ:NVDA opened at $148.88 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 stock has a market cap of $3.65 trillion, a price-to-earnings ratio of 69.90, a PEG ratio of 1.43 and a beta of 1.66. The stock has a 50-day moving average price of $126.08 and a two-hundred day moving average price of $117.25. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $148.93.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, equities analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current year.

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

NVIDIA Cuts Dividend

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

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last ninety days. 4.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Sanford C. Bernstein boosted their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Truist Financial boosted their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Finally, Loop Capital reiterated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

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.