POM Investment Strategies LLC Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

POM Investment Strategies LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,480.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,750 shares of the computer hardware maker’s stock after purchasing an additional 2,576 shares during the period. NVIDIA comprises about 0.3% of POM Investment Strategies LLC’s holdings, making the stock its 25th largest holding. POM Investment Strategies LLC’s holdings in NVIDIA were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Aveo Capital Partners LLC increased its position in shares of NVIDIA by 30.5% in the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after purchasing an additional 549 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in NVIDIA by 60.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after buying an additional 5,496 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in NVIDIA by 13.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 104,135 shares of the computer hardware maker’s stock valued at $51,570,000 after buying an additional 12,142 shares in the last quarter. Private Portfolio Partners LLC lifted its holdings in NVIDIA by 1.0% during the 4th quarter. Private Portfolio Partners LLC now owns 4,994 shares of the computer hardware maker’s stock worth $2,473,000 after buying an additional 49 shares during the last quarter. Finally, USA Financial Formulas boosted its position in shares of NVIDIA by 558.0% during the 4th quarter. USA Financial Formulas now owns 6,567 shares of the computer hardware maker’s stock worth $3,252,000 after acquiring an additional 5,569 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVDA. KeyCorp boosted their target price on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Wolfe Research upped 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. Susquehanna increased their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research report on Monday, June 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Finally, DZ Bank cut NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 target price on the stock. in a research report on Friday, May 24th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total value of $13,419,600.00. Following the completion of the transaction, the chief executive officer now owns 75,655,836 shares in the company, valued at $8,460,592,139.88. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total value of $13,419,600.00. Following the sale, the chief executive officer now directly owns 75,655,836 shares of the company’s stock, valued at approximately $8,460,592,139.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 385,000 shares of NVIDIA stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,845,633 shares of company stock worth $465,330,122. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $116.78 on Tuesday. The firm’s fifty day simple moving average is $117.19 and its 200-day simple moving average is $106.39. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.87 trillion, a PE ratio of 68.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. Analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

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

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.