GGM Financials LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

GGM Financials LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 12.2% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,116 shares of the computer hardware maker’s stock after buying an additional 1,208 shares during the quarter. NVIDIA comprises approximately 1.2% of GGM Financials LLC’s portfolio, making the stock its 15th biggest position. GGM Financials LLC’s holdings in NVIDIA were worth $1,350,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NVDA. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA during the 3rd quarter valued at about $27,000. CGC Financial Services LLC purchased a new position in shares of NVIDIA in the second quarter worth approximately $26,000. Quest Partners LLC purchased a new position in shares of NVIDIA in the second quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the second quarter valued at approximately $31,000. Finally, FPC Investment Advisory Inc. increased its holdings in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 3.1 %

NVDA opened at $134.70 on Friday. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63. The stock’s 50 day moving average price is $139.63 and its 200-day moving average price is $127.32.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. On average, equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a $0.01 dividend. The ex-dividend date of this dividend 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 of Directors has initiated a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NVDA shares. UBS Group boosted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Redburn Atlantic started coverage on NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. HSBC raised their price objective on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Melius Research boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Truist Financial raised 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. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock worth $201,687,727 in the last three months. Corporate insiders own 4.23% of the company’s stock.

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.