Rep. Pete Sessions Buys NVIDIA Co. (NASDAQ:NVDA) Stock

Representative Pete Sessions (R-Texas) recently bought shares of NVIDIA Co. (NASDAQ:NVDA). In a filing disclosed on November 01st, the Representative disclosed that they had bought between $1,001 and $15,000 in NVIDIA stock on November 1st. The trade occurred in the Representative’s “IRA ONE” account.

Representative Pete Sessions also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 9/16/2024.
• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 9/10/2024.
• Sold $1,001 – $15,000 in shares of Altria Group (NYSE:MO) on 9/10/2024.
• Purchased $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 9/9/2024.

NVIDIA Price Performance

Shares of NVDA opened at $136.05 on Tuesday. The business has a 50-day moving average of $125.45 and a 200-day moving average of $116.60. NVIDIA Co. has a 1 year low of $44.90 and a 1 year high of $144.42. The company has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 63.81, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. 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 (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized a stock 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA in the first quarter valued at approximately $27,000. HBC Financial Services PLLC purchased a new stake in shares of NVIDIA in the first quarter worth $30,000. Coston McIsaac & Partners boosted its position in shares of NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the last quarter. Finally, TCTC Holdings LLC bought a new position in shares of NVIDIA in the 1st quarter worth $82,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group reissued a “buy” rating and issued a $150.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Robert W. Baird raised their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Benchmark reiterated a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,396,270 shares of company stock worth $279,825,927 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

About Representative SESSIONS

Pete Sessions (Republican Party) is a member of the U.S. House, representing Texas’ 17th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2025. Sessions (Republican Party) is running for re-election to the U.S. House to represent Texas’ 17th Congressional District. He declared candidacy for the Republican primary scheduled on March 5, 2024. Pete Sessions was born and lives in Waco, Texas. Sessions earned a B.S. from Southwestern University in 1978. Sessions’ career experience includes working as an executive with AT&T.

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.