NVIDIA (NASDAQ:NVDA) Stock Unloaded Rep. Josh Gottheimer

Posted by Scott Moore on Nov 8th, 2024

Representative Josh Gottheimer (D-New Jersey) recently sold shares of NVIDIA Co. (NASDAQ:NVDA). In a filing disclosed on November 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in NVIDIA stock on October 17th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

NVIDIA Trading Up 2.2 %

NASDAQ:NVDA opened at $148.88 on Friday. The firm has a market capitalization of $3.65 trillion, a price-to-earnings ratio of 69.90, a PEG ratio of 1.43 and a beta of 1.66. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $148.93. The business’s 50-day moving average price is $126.08 and its two-hundred day moving average price is $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 (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the firm earned $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA announced that its board has approved a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.88%.

Analyst Upgrades and Downgrades

Several analysts recently commented on NVDA shares. Bank of America raised their price objective on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Craig Hallum increased their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Robert W. Baird lifted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Truist Financial raised their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

View Our Latest Research Report on NVDA

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the 1st quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter worth $27,000. HBC Financial Services PLLC acquired a new stake in shares of NVIDIA in the 1st quarter valued at $30,000. TCTC Holdings LLC bought a new position in shares of NVIDIA in the 1st quarter valued at $82,000. Finally, Slocum Gordon & Co LLP acquired a new position in shares of NVIDIA during the 1st quarter worth $98,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the sale, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last ninety days. 4.23% of the stock is owned by insiders.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About NVIDIA

(Get Free Report)

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.