Rep. Josh Gottheimer Sells Off Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Donald Scott on Dec 7th, 2024

Representative Josh Gottheimer (D-New Jersey) recently sold shares of NVIDIA Co. (NASDAQ:NVDA). In a filing disclosed on December 05th, the Representative disclosed that they had sold between $1,001 and $15,000 in NVIDIA stock on November 12th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

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

Sold $1,001 – $15,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/29/2024.
Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/27/2024.
Sold $1,001 – $15,000 in shares of Netflix (NASDAQ:NFLX) on 11/27/2024.
Sold $1,001 – $15,000 in shares of Vertiv (NYSE:VRT) on 11/27/2024.
Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/26/2024.
Purchased $1,001 – $15,000 in shares of Dominion Energy (NYSE:D) on 11/26/2024.
Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/26/2024.
Sold $1,001 – $15,000 in shares of Eaton (NYSE:ETN) on 11/25/2024.
Sold $1,001 – $15,000 in shares of ConocoPhillips (NYSE:COP) on 11/22/2024.
Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/22/2024.

NVIDIA Stock Performance

NVDA stock opened at $142.44 on Friday. NVIDIA Co. has a twelve month low of $45.60 and a twelve month high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.49 trillion, a P/E ratio of 56.06, a price-to-earnings-growth ratio of 2.62 and a beta of 1.63. The business’s fifty day moving average is $137.74 and its 200-day moving average is $125.04.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

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.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the transaction, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,796,986 shares of company stock worth $214,418,399 in the last ninety days. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Westpark Capital increased their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wedbush raised their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Evercore ISI boosted their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Benchmark raised their price target on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Loop Capital reiterated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

View Our Latest Stock Analysis on NVIDIA

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. grew its holdings in NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after buying an additional 107,169 shares in the last quarter. Truepoint Inc. raised its stake in NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares during the last quarter. Narwhal Capital Management lifted its stake in shares of NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after acquiring an additional 26,373 shares during the last quarter. Finally, Legal & General Group Plc raised its position 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 valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

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.