Capstone Wealth Management Group LLC Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Capstone Wealth Management Group LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 94.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,025 shares of the computer hardware maker’s stock after purchasing an additional 1,950 shares during the quarter. Capstone Wealth Management Group LLC’s holdings in NVIDIA were worth $489,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NVDA. Vanguard Group Inc. boosted its stake in shares of NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares during the last quarter. Legal & General Group Plc lifted its holdings in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its position in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. grew its stake in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last quarter. 4.23% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $147.01 on Wednesday. The firm has a market capitalization of $3.61 trillion, a PE ratio of 69.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The business’s 50-day moving average price is $132.42 and its 200-day moving average price is $121.37. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $149.77.

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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVDA. Benchmark restated a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Citigroup raised their price target on shares of NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley upped their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Raymond James upped their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $154.63.

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.