WealthBridge Capital Management LLC Purchases 8,637 Shares of NVIDIA Co. (NASDAQ:NVDA)

WealthBridge Capital Management LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 19.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,266 shares of the computer hardware maker’s stock after purchasing an additional 8,637 shares during the quarter. NVIDIA makes up approximately 1.8% of WealthBridge Capital Management LLC’s portfolio, making the stock its 11th biggest holding. WealthBridge Capital Management LLC’s holdings in NVIDIA were worth $6,469,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NVDA. Privium Fund Management UK Ltd bought a new stake in NVIDIA during the 1st quarter valued at $2,635,000. Monument Capital Management raised its holdings in NVIDIA by 1.8% during the 1st quarter. Monument Capital Management now owns 1,853 shares of the computer hardware maker’s stock valued at $1,674,000 after acquiring an additional 33 shares during the period. Sivia Capital Partners LLC raised its holdings in NVIDIA by 6.0% during the 1st quarter. Sivia Capital Partners LLC now owns 6,605 shares of the computer hardware maker’s stock valued at $5,968,000 after acquiring an additional 372 shares during the period. Tradewinds Capital Management LLC raised its holdings in NVIDIA by 40.1% during the 1st quarter. Tradewinds Capital Management LLC now owns 937 shares of the computer hardware maker’s stock valued at $847,000 after acquiring an additional 268 shares during the period. Finally, Carret Asset Management LLC raised its holdings in NVIDIA by 6.9% during the 1st quarter. Carret Asset Management LLC now owns 4,928 shares of the computer hardware maker’s stock valued at $4,453,000 after acquiring an additional 320 shares during the period. 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 of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mark A. Stevens sold 125,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total value of $15,326,250.00. Following the completion of the transaction, the director now directly owns 8,255,117 shares of the company’s stock, valued at $1,012,159,895.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,276,270 shares of company stock valued at $267,363,927 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. William Blair assumed coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Evercore ISI boosted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Raymond James boosted their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, August 6th. Finally, Bank of America boosted their price target on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $145.61 on Thursday. The company has a market cap of $3.57 trillion, a price-to-earnings ratio of 68.36, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. The company has a 50-day moving average price of $126.08 and a 200-day moving average price of $117.25. 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 $146.49.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. 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 payout ratio is currently 1.88%.

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.