Leisure Capital Management Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

Leisure Capital Management lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 856.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,985 shares of the computer hardware maker’s stock after acquiring an additional 17,896 shares during the period. NVIDIA accounts for about 1.2% of Leisure Capital Management’s investment portfolio, making the stock its 22nd largest position. Leisure Capital Management’s holdings in NVIDIA were worth $2,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the 1st quarter worth approximately $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA during the 1st quarter worth approximately $30,000. Norwood Financial Corp acquired a new stake in NVIDIA during the 1st quarter worth approximately $45,000. Finally, Coston McIsaac & Partners increased its position in NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,692,303 shares of company stock worth $444,047,307. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVDA stock opened at $116.00 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock’s fifty day moving average is $115.99 and its two-hundred day moving average is $107.11.

NVIDIA (NASDAQ:NVDA) last posted its 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. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. On average, research analysts predict that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication 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. Shareholders of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NVDA. Evercore ISI increased their target price on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Morgan Stanley increased their target price on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Jefferies Financial Group increased their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Bank of America reaffirmed a “buy” rating and issued a $165.00 price objective on shares of NVIDIA in a research report on Thursday, September 5th. Five research 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

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.