Crown Wealth Group LLC Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Crown Wealth Group LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,677.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,750 shares of the computer hardware maker’s stock after purchasing an additional 60,164 shares during the period. NVIDIA accounts for 3.9% of Crown Wealth Group LLC’s portfolio, making the stock its 7th largest position. Crown Wealth Group LLC’s holdings in NVIDIA were worth $7,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of NVDA. Aveo Capital Partners LLC boosted its stake 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 lifted 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 period. Montrusco Bolton Investments Inc. boosted its stake in NVIDIA by 112.5% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 710,612 shares of the computer hardware maker’s stock valued at $345,054,000 after acquiring an additional 376,274 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in NVIDIA during the 4th quarter worth $2,693,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at $211,000. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of a number of analyst reports. Westpark Capital lifted their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. UBS Group boosted their target price on NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Citigroup increased their price target on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. William Blair began coverage on shares of NVIDIA in a research note on Wednesday. They set an “outperform” rating on the stock. Finally, Raymond James upped their target price on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Trading Down 1.6 %

Shares of NVIDIA stock opened at $116.00 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. 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 business’s 50 day moving average is $115.99 and its 200-day moving average is $106.97. The stock has a market cap of $2.85 trillion, a P/E ratio of 67.84, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. Equities research analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA announced that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was 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 approximately $57,370,572.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.84, for a total value of $14,500,800.00. Following the completion of the sale, the chief executive officer now directly owns 80,574,995 shares in the company, valued at $9,736,682,395.80. The disclosure for this sale can be found here. Insiders have sold a total of 3,692,303 shares of company stock valued at $444,047,307 in the last three months. 4.23% of the stock is currently owned by company insiders.

NVIDIA 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.