Lockerman Financial Group Inc. Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Lockerman Financial Group Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,345 shares of the computer hardware maker’s stock after acquiring an additional 241 shares during the quarter. NVIDIA accounts for 2.3% of Lockerman Financial Group Inc.’s portfolio, making the stock its 8th largest holding. Lockerman Financial Group Inc.’s holdings in NVIDIA were worth $1,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NVDA. China Universal Asset Management Co. Ltd. increased its holdings in shares of 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 worth $34,597,000 after purchasing an additional 13,135 shares during the period. Affinity Investment Advisors LLC acquired a new stake in NVIDIA during the first quarter worth about $1,239,000. Ogorek Anthony Joseph NY ADV increased its stake in NVIDIA by 29.3% during the first quarter. Ogorek Anthony Joseph NY ADV now owns 485 shares of the computer hardware maker’s stock valued at $438,000 after acquiring an additional 110 shares during the period. Avalon Advisory Group acquired a new position in NVIDIA in the 1st quarter valued at approximately $236,000. Finally, Valley Wealth Managers Inc. lifted its position in shares of NVIDIA by 23.4% in the 1st quarter. Valley Wealth Managers Inc. now owns 1,753 shares of the computer hardware maker’s stock worth $1,584,000 after acquiring an additional 332 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, 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 SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NVDA shares. Sanford C. Bernstein upped their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Craig Hallum increased their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Needham & Company LLC raised their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Rosenblatt Securities restated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Trading Down 1.3 %

NVDA opened at $140.15 on Tuesday. The firm has a 50 day simple moving average of $131.64 and a 200 day simple moving average of $120.96. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The company has a market cap of $3.44 trillion, a price-to-earnings ratio of 65.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last posted its quarterly 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.67 earnings per share for the current year.

NVIDIA declared that its board has initiated a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

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

NVIDIA 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.