BKM Wealth Management LLC Invests $673,000 in NVIDIA Co. (NASDAQ:NVDA)

BKM Wealth Management LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,540 shares of the computer hardware maker’s stock, valued at approximately $673,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its holdings in NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after purchasing an additional 13,135 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of NVIDIA by 4.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 25,275 shares of the computer hardware maker’s stock valued at $22,837,000 after acquiring an additional 1,104 shares during the last quarter. Waverly Advisors LLC increased its holdings in NVIDIA by 48.0% during the 1st quarter. Waverly Advisors LLC now owns 18,816 shares of the computer hardware maker’s stock valued at $17,001,000 after purchasing an additional 6,102 shares in the last quarter. Benchmark Investment Advisors LLC raised its position in NVIDIA by 350.8% in the 1st quarter. Benchmark Investment Advisors LLC now owns 26,559 shares of the computer hardware maker’s stock valued at $23,997,000 after purchasing an additional 20,668 shares during the last quarter. Finally, BTG Pactual Global Asset Management Ltd grew its holdings in shares of NVIDIA by 74.7% during the first quarter. BTG Pactual Global Asset Management Ltd now owns 10,621 shares of the computer hardware maker’s stock worth $9,597,000 after purchasing an additional 4,541 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $145.06 on Friday. The stock has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 57.11, a PEG ratio of 2.54 and a beta of 1.63. NVIDIA Co. has a 12 month low of $45.41 and a 12 month high of $152.89. The firm has a fifty day simple moving average of $137.74 and a 200 day simple moving average of $125.04. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 EPS. Research analysts forecast 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. Stockholders of record on Thursday, December 5th will be paid 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 dividend payout ratio is currently 1.57%.

NVIDIA declared that its Board of Directors has authorized a stock buyback 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on NVDA shares. Melius Research upped their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Barclays raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Raymond James increased their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Oppenheimer restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Wells Fargo & Company boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. The trade was a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred 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 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. In the last 90 days, insiders sold 1,796,986 shares of company stock valued at $214,418,399. 4.23% of the stock is owned by insiders.

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.