Foundry Financial Group Inc. Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Foundry Financial Group Inc. grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,291 shares of the computer hardware maker’s stock after acquiring an additional 239 shares during the period. Foundry Financial Group Inc.’s holdings in NVIDIA were worth $521,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the first quarter valued at approximately $27,000. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 1,900.0% during the 2nd 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. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter worth $27,000. Finally, CGC Financial Services LLC acquired a new position in NVIDIA in the second quarter worth $26,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC increased their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wells Fargo & Company increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. TD Cowen lifted their target price on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Bank of America reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Four equities research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,036,986 shares of company stock valued at $240,602,399. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Trading Up 2.2 %

NVIDIA stock opened at $138.25 on Monday. The firm has a market cap of $3.39 trillion, a price-to-earnings ratio of 54.43, a price-to-earnings-growth ratio of 2.50 and a beta of 1.66. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89. The firm’s 50 day moving average price is $136.05 and its two-hundred day moving average price is $124.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business 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 company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. On average, research analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

NVIDIA declared that its board has authorized a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.