McGlone Suttner Wealth Management Inc. Purchases 27,610 Shares of NVIDIA Co. (NASDAQ:NVDA)

McGlone Suttner Wealth Management Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 990.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 30,398 shares of the computer hardware maker’s stock after purchasing an additional 27,610 shares during the period. NVIDIA makes up approximately 0.8% of McGlone Suttner Wealth Management Inc.’s holdings, making the stock its 19th biggest position. McGlone Suttner Wealth Management Inc.’s holdings in NVIDIA were worth $3,692,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Legal & General Group Plc increased its holdings in NVIDIA by 884.0% in 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 purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of NVIDIA by 854.1% during the 2nd 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 buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. increased its stake in shares of 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 acquiring an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 acquiring an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares in 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 firm’s stock in a transaction that occurred 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 represents 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.

Wall Street Analyst Weigh In

NVDA has been the subject of several research reports. Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen raised NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Craig Hallum raised 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. Finally, Oppenheimer boosted their target price on shares of NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $152.40.

NVIDIA Price Performance

NVDA opened at $141.98 on Friday. 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 Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The stock’s 50 day simple moving average is $130.18 and its 200 day simple moving average is $119.70. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 66.66, a PEG ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 122.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. As a group, analysts predict that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced 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 was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA Company 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.