Carter Financial Group INC. Buys Shares of 27,000 NVIDIA Corporation $NVDA

Carter Financial Group INC. purchased a new position in shares of NVIDIA Corporation (NASDAQ:NVDA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 27,000 shares of the computer hardware maker’s stock, valued at approximately $4,266,000. NVIDIA accounts for 2.8% of Carter Financial Group INC.’s investment portfolio, making the stock its 8th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Morton Brown Family Wealth LLC raised its stake in shares of NVIDIA by 1.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 3,928 shares of the computer hardware maker’s stock valued at $621,000 after acquiring an additional 58 shares during the period. Roof Eidam Maycock Peralta LLC increased its holdings in NVIDIA by 0.3% in the 2nd quarter. Roof Eidam Maycock Peralta LLC now owns 20,903 shares of the computer hardware maker’s stock valued at $3,302,000 after purchasing an additional 58 shares during the last quarter. Alpha Wealth Funds LLC increased its holdings in NVIDIA by 1.3% in the 2nd quarter. Alpha Wealth Funds LLC now owns 4,634 shares of the computer hardware maker’s stock valued at $732,000 after purchasing an additional 59 shares during the last quarter. Copia Wealth Management raised its position in NVIDIA by 14.7% in the second quarter. Copia Wealth Management now owns 468 shares of the computer hardware maker’s stock valued at $74,000 after purchasing an additional 60 shares during the period. Finally, BKM Wealth Management LLC lifted its stake in NVIDIA by 1.1% during the second quarter. BKM Wealth Management LLC now owns 5,745 shares of the computer hardware maker’s stock worth $908,000 after purchasing an additional 60 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $182.34, for a total value of $13,675,500.00. Following the transaction, the chief executive officer directly owned 71,158,203 shares in the company, valued at $12,974,986,735.02. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 350,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $176.39, for a total transaction of $61,736,500.00. Following the sale, the director directly owned 7,399,803 shares in the company, valued at approximately $1,305,251,251.17. The trade was a 4.52% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 2,754,474 shares of company stock worth $499,562,617. Insiders own 4.17% of the company’s stock.

NVIDIA Stock Down 3.3%

Shares of NVIDIA stock opened at $175.02 on Monday. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $212.19. The company has a market capitalization of $4.25 trillion, a P/E ratio of 43.43, a P/E/G ratio of 0.86 and a beta of 2.29. The company has a 50 day moving average of $186.69 and a 200 day moving average of $174.09.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. The business had revenue of $57.01 billion for the quarter, compared to analyst estimates of $54.66 billion. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The company’s revenue was up 62.5% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is presently 0.99%.

Analyst Ratings Changes

NVDA has been the subject of a number of research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $265.00 price objective on shares of NVIDIA in a research note on Thursday, November 20th. Raymond James Financial set a $272.00 price target on shares of NVIDIA and gave the stock a “strong-buy” rating in a research note on Thursday, November 20th. Wolfe Research increased their price target on shares of NVIDIA from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Loop Capital lifted their price objective on shares of NVIDIA from $250.00 to $350.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Sanford C. Bernstein reaffirmed a “buy” rating on shares of NVIDIA in a research note on Tuesday, December 9th. Four research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $258.65.

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.