Arcadia Wealth Management LLC Has $682,000 Stake in NVIDIA Co. (NASDAQ:NVDA)

Arcadia Wealth Management LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 863.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,519 shares of the computer hardware maker’s stock after buying an additional 4,946 shares during the period. Arcadia Wealth Management LLC’s holdings in NVIDIA were worth $682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Baillie Gifford & Co. lifted its stake in shares of NVIDIA by 696.6% in the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after purchasing an additional 71,757,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of NVIDIA by 829.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after purchasing an additional 57,160,191 shares during the period. Swedbank AB lifted its stake in shares of NVIDIA by 798.8% in the 2nd quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after purchasing an additional 34,678,944 shares during the period. Finally, Norges Bank acquired a new position in shares of NVIDIA in the 4th quarter valued at $14,606,369,000. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 100,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.85, for a total value of $12,085,000.00. Following the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at $627,073,972.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Colette Kress sold 100,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,692,303 shares of company stock worth $444,047,307. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $116.00 on Friday. The firm’s fifty day moving average price is $115.99 and its two-hundred day moving average price is $106.97. The stock has a market cap of $2.85 trillion, a PE ratio of 67.84, a PEG 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. 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 issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, equities analysts expect that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Analyst Ratings Changes

A number of analysts recently commented on NVDA shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Wells Fargo & Company increased their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Bank of America restated a “buy” rating and set a $165.00 price objective on shares of NVIDIA in a research note on Thursday, September 5th. KeyCorp increased their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.