Boyd Wealth Management LLC Takes $206,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Boyd Wealth Management LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,700 shares of the computer hardware maker’s stock, valued at approximately $206,000.

A number of other institutional investors have also made changes to their positions in NVDA. Hoertkorn Richard Charles raised its holdings in shares of NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the period. Total Wealth Planning LLC grew its position in NVIDIA by 3.6% in 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 grew its position in NVIDIA by 0.3% in the 3rd 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 in the last quarter. Pavion Blue Capital LLC grew its position in NVIDIA by 0.4% in the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock worth $2,629,000 after purchasing an additional 80 shares in the last quarter. Finally, L. Roy Papp & Associates LLP grew its position in shares of NVIDIA by 2.5% during the 3rd quarter. L. Roy Papp & Associates LLP now owns 3,471 shares of the computer hardware maker’s stock valued at $422,000 after acquiring an additional 85 shares during the period. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wedbush increased their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. UBS Group increased their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Truist Financial increased their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Bank of America restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Melius Research raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,556,986 shares of company stock worth $188,359,199. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $137.34 on Friday. The company has a 50 day moving average price of $139.28 and a 200-day moving average price of $126.33. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The firm has a market capitalization of $3.36 trillion, a PE ratio of 54.21, a P/E/G ratio of 2.58 and a beta of 1.63. 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 results 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, equities research analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given 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 dividend payout ratio (DPR) is 1.57%.

NVIDIA declared that its board has authorized 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.