Eq LLC Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

Eq LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,000 shares of the computer hardware maker’s stock, valued at approximately $247,000.

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

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the sale, the chief executive officer now owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of NVIDIA stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $126.99, for a total value of $12,699,000.00. Following the sale, the chief financial officer now owns 5,288,862 shares of the company’s stock, valued at approximately $671,632,585.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the transaction, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at $10,980,333,370.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,845,633 shares of company stock valued at $465,330,122. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wolfe Research boosted their target price on shares of NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. TD Cowen boosted their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 target price on shares of NVIDIA in a research note on Thursday, May 23rd. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Finally, Sanford C. Bernstein raised their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Trading Down 1.9 %

Shares of NVDA stock opened at $116.78 on Tuesday. The stock has a fifty day simple moving average of $117.19 and a two-hundred day simple moving average of $106.39. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The firm has a market capitalization of $2.87 trillion, a PE ratio of 68.29, a PEG ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the business posted $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. On average, analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA declared that its board has approved a stock buyback 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 usually a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 2.34%.

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.