Rep. Morgan McGarvey Sells NVIDIA Co. (NASDAQ:NVDA) Stock

Representative Morgan McGarvey (D-Kentucky) recently sold shares of NVIDIA Co. (NASDAQ:NVDA). In a filing disclosed on December 10th, the Representative disclosed that they had sold between $15,001 and $50,000 in NVIDIA stock on November 13th. The trade occurred in the Representative’s “CHRIS IRA” account.

Representative Morgan McGarvey also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Shell (NYSE:SHEL) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Interactive Brokers Group (NASDAQ:IBKR) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Charles Schwab (NYSE:SCHW) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Trump Media & Technology Group (NASDAQ:DJT) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Trump Media & Technology Group (NASDAQ:DJT) on 11/6/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 10/25/2024.

NVIDIA Stock Up 3.1 %

NVDA opened at $139.31 on Thursday. NVIDIA Co. has a twelve month low of $46.05 and a twelve month high of $152.89. The firm has a market cap of $3.41 trillion, a price-to-earnings ratio of 54.85, a PEG ratio of 2.58 and a beta of 1.63. The firm’s 50-day simple moving average is $138.87 and its 200-day simple moving average is $126.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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

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

NVIDIA Announces Dividend

The business 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 dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Analyst Ratings Changes

NVDA has been the topic of a number of research reports. Susquehanna upped their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Phillip Securities reiterated an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Bank of America reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. DA Davidson lifted their price objective on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Four investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’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 transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock worth $188,359,199 over the last 90 days. 4.23% of the stock is owned by company insiders.

Institutional Trading of NVIDIA

Institutional investors have recently made changes to their positions in the stock. Maxwell Wealth Strategies Inc. bought a new position in shares of NVIDIA during the first quarter valued at approximately $420,000. Tactive Advisors LLC increased its position in NVIDIA by 158.9% during the 1st quarter. Tactive Advisors LLC now owns 4,145 shares of the computer hardware maker’s stock valued at $3,745,000 after purchasing an additional 2,544 shares during the period. Hamilton Wealth LLC raised its holdings in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of NVIDIA by 14.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 14,189 shares of the computer hardware maker’s stock worth $12,259,000 after purchasing an additional 1,785 shares during the period. Finally, OMC Financial Services LTD bought a new stake in shares of NVIDIA during the 1st quarter valued at about $25,395,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

About Representative McGarvey

Morgan McGarvey (Democratic Party) is a member of the U.S. House, representing Kentucky’s 3rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. McGarvey (Democratic Party) is running for re-election to the U.S. House to represent Kentucky’s 3rd Congressional District. He declared candidacy for the Democratic primary scheduled on May 21, 2024. McGarvey served as state Senate minority leader from 2019 to 2023. Morgan McGarvey was born in Louisville, Kentucky. McGarvey earned a bachelor’s degree in journalism from the University of Missouri and a law degree from the University of Kentucky. His career experience includes working as an attorney with Morgan & Pottinger PSC. McGarvey has been affiliated with the Young Professionals Association of Louisville and the New Leaders Council.

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.