Putney Financial Group LLC Invests $2.93 Million in NVIDIA Co. (NASDAQ:NVDA)

Putney Financial Group LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 21,832 shares of the computer hardware maker's stock, valued at approximately $2,932,000. NVIDIA comprises 2.0% of Putney Financial Group LLC's investment portfolio, making the stock its 9th biggest holding.

A number of other institutional investors also recently made changes to their positions in NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA in the fourth quarter worth $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the 4th quarter worth $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA in the 4th quarter worth about $40,000. LSV Asset Management acquired a new stake in shares of NVIDIA in the 4th quarter valued at about $54,000. Finally, Delos Wealth Advisors LLC lifted its position in shares of NVIDIA by 134.8% during the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock worth $66,000 after purchasing an additional 283 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded up $1.73 during midday trading on Friday, reaching $141.72. The company's stock had a trading volume of 153,481,622 shares, compared to its average volume of 280,663,387. NVIDIA Co. has a one year low of $86.62 and a one year high of $195.95. The company has a market cap of $3.46 trillion, a price-to-earnings ratio of 55.77, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. The company has a 50 day moving average price of $117.82 and a 200 day moving average price of $126.42. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business's revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share. On average, equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Susquehanna reiterated a "positive" rating and issued a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. KeyCorp set a $190.00 price target on NVIDIA in a research report on Wednesday, March 19th. Wedbush restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Finally, TD Cowen boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $171.66.

Insider Activity

In other news, Director John Dabiri sold 2,663 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director now directly owns 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,257,983 shares of company stock worth $172,973,349. 4.17% of the stock is owned by corporate insiders.

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.