Significant Wealth Partners LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Significant Wealth Partners LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 409.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,620 shares of the computer hardware maker’s stock after purchasing an additional 5,320 shares during the period. NVIDIA accounts for 0.5% of Significant Wealth Partners LLC’s holdings, making the stock its 7th biggest holding. Significant Wealth Partners LLC’s holdings in NVIDIA were worth $818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the first quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA during the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the first quarter valued at approximately $27,000. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVDA. Susquehanna raised their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. Melius Research raised their price target on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Argus raised their price target on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Needham & Company LLC raised their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company raised their price target on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating 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 assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Stock Down 1.6 %

NASDAQ NVDA opened at $116.00 on Friday. The business has a fifty day moving average price of $115.99 and a 200 day moving average price of $107.11. NVIDIA Co. has a one year low of $39.23 and a one year 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. The company 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 posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the company earned $0.25 EPS. The firm’s revenue was up 122.4% compared to the same quarter last year. Research analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

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 dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

NVIDIA declared that its board has authorized a share repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.85, for a total value of $12,085,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at approximately $627,073,972.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the firm’s 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 completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.85, for a total value of $12,085,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at $627,073,972.70. The disclosure for this sale can be found here. Insiders sold 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 insiders.

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.