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

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 Stock Up 2.8 %

Shares of NASDAQ:NVDA traded up $3.84 during midday trading on Tuesday, reaching $139.89. 65,542,531 shares of the company were exchanged, compared to its average volume of 406,407,469. The firm has a market cap of $3.43 trillion, a PE ratio of 65.34, a P/E/G ratio of 1.43 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a fifty-two week low of $44.90 and a fifty-two week high of $144.42. The stock has a fifty day simple moving average of $125.45 and a two-hundred day simple moving average of $116.60.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Hamilton Wealth LLC lifted its position in NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC lifted its holdings in shares of NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after buying an additional 12 shares during the period. Curran Financial Partners LLC grew its holdings in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC increased its position in NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after acquiring an additional 12 shares during the last quarter. Finally, Poehling Capital Management INC. lifted its holdings in NVIDIA by 0.9% in the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after acquiring an additional 14 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total value of $12,462,000.00. Following the completion of the sale, the chief executive officer now directly owns 76,854,995 shares of the company’s stock, valued at approximately $7,981,391,230.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the transaction, the chief executive officer now directly owns 76,854,995 shares of the company’s stock, valued at $7,981,391,230.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,396,270 shares of company stock worth $279,825,927. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Truist Financial upped their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. KeyCorp lifted their target price on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Wells Fargo & Company boosted their target price on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five 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 MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

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.

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.