NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Echo45 Advisors LLC

Echo45 Advisors LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 709.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 11,732 shares of the computer hardware maker’s stock after acquiring an additional 10,283 shares during the quarter. NVIDIA comprises about 1.0% of Echo45 Advisors LLC’s portfolio, making the stock its 22nd largest position. Echo45 Advisors LLC’s holdings in NVIDIA were worth $1,449,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Hamilton Wealth LLC lifted its holdings in NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares in the last quarter. Brooklyn FI LLC lifted its stake in NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after buying an additional 12 shares in the last quarter. Curran Financial Partners LLC boosted its holdings in NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC raised its holdings in shares of NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after acquiring an additional 12 shares during the last quarter. Finally, M. Kraus & Co lifted its position in shares of NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the transaction, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the sale, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of 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. In the last three months, insiders sold 3,692,303 shares of company stock valued at $444,047,307. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.6 %

Shares of NASDAQ NVDA opened at $116.00 on Friday. The stock has a market cap of $2.85 trillion, a P/E ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67. The business’s fifty day simple moving average is $115.99 and its 200-day simple moving average is $106.97. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

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

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.01 dividend. 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 payout ratio is 2.34%.

Analyst Ratings Changes

NVDA has been the subject of several research reports. Loop Capital reiterated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. UBS Group boosted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Needham & Company LLC increased their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

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.