Rep. Thomas R. Suozzi Sells NVIDIA Co. (NASDAQ:NVDA) Shares

Representative Thomas R. Suozzi (D-New York) recently sold shares of NVIDIA Co. (NASDAQ:NVDA). In a filing disclosed on November 12th, the Representative disclosed that they had sold between $15,001 and $50,000 in NVIDIA stock on October 24th. The trade occurred in the Representative’s “MERRILL LYNCH- ADVISOR DISCRETION ACCOUNT- IRA” account.

Representative Thomas R. Suozzi also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Corning (NYSE:GLW) on 10/24/2024.
• Purchased $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/24/2024.
• Sold $1,001 – $15,000 in shares of Boeing (NYSE:BA) on 10/24/2024.
• Sold $1,001 – $15,000 in shares of CVS Health (NYSE:CVS) on 10/24/2024.
• Sold $15,001 – $50,000 in shares of Apple (NASDAQ:AAPL) on 10/7/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 10/2/2024.

NVIDIA Trading Up 0.3 %

Shares of NVIDIA stock opened at $146.76 on Friday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The company’s fifty day simple moving average is $129.39 and its 200-day simple moving average is $119.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a market capitalization of $3.60 trillion, a PE ratio of 68.90, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA Cuts Dividend

The firm 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. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

NVDA has been the subject of several analyst reports. Benchmark reissued a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Westpark Capital increased their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. William Blair started coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Citigroup increased their price target on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, HSBC boosted their price objective on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.40.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. grew its stake in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter valued at about $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the first quarter valued at $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

About Representative Suozzi

Thomas Richard Suozzi (born August 31, 1962) is an American politician, attorney, and accountant serving as the U.S. representative for New York’s 3rd congressional district since 2024 and previously from 2017 to 2023. A member of the Democratic Party, he was the county executive of Nassau County on Long Island from 2002 to 2009, when he was unseated by Republican Ed Mangano. Before that, Suozzi served eight years as the mayor of Glen Cove in Nassau County.

In 2006, he ran unsuccessfully against Eliot Spitzer for the Democratic nomination for governor of New York. Suozzi was elected to the U.S. House of Representatives in 2016 and reelected in 2018 and 2020. He retired from Congress to run again for the Democratic gubernatorial nomination in 2022, losing to incumbent governor Kathy Hochul.

In October 2023, Suozzi announced that he would run for his old congressional seat in 2024.After Congress expelled George Santos that December, a special election to fill the remainder of the term was scheduled for February 13, 2024. Suozzi was selected as the Democratic nominee, and then won the special election, reclaiming the seat for Democrats.

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.