William Allan Corp Acquires New Position in NVIDIA Co. (NASDAQ:NVDA)

William Allan Corp acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,180 shares of the computer hardware maker’s stock, valued at approximately $269,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Kelleher Financial Advisors raised its stake in NVIDIA by 864.7% during the second quarter. Kelleher Financial Advisors now owns 13,217 shares of the computer hardware maker’s stock worth $1,633,000 after purchasing an additional 11,847 shares during the period. Eos Management L.P. raised its stake in NVIDIA by 900.0% during the second quarter. Eos Management L.P. now owns 45,900 shares of the computer hardware maker’s stock worth $5,670,000 after purchasing an additional 41,310 shares during the period. Schmidt P J Investment Management Inc. raised its stake in NVIDIA by 895.5% during the second quarter. Schmidt P J Investment Management Inc. now owns 59,214 shares of the computer hardware maker’s stock worth $7,315,000 after purchasing an additional 53,266 shares during the period. Tobam raised its stake in NVIDIA by 811.4% during the second quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock worth $5,126,000 after purchasing an additional 36,937 shares during the period. Finally, AM Investment Strategies LLC raised its stake in shares of NVIDIA by 965.0% in the 2nd quarter. AM Investment Strategies LLC now owns 26,411 shares of the computer hardware maker’s stock valued at $3,263,000 after acquiring an additional 23,931 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 1.6 %

NVDA opened at $116.00 on Monday. NVIDIA Co. has a 1-year low of $39.23 and a 1-year 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. The company has a market cap of $2.85 trillion, a P/E ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The company has a fifty day moving average price of $115.99 and a two-hundred day moving average price of $107.24.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm 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 business’s revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. Analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given 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%.

NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

NVDA has been the topic of a number of research reports. HSBC raised their target price on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Susquehanna raised their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, June 10th. DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. Finally, Barclays lowered their price target on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, 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 filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s 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 completion of the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,472,303 shares of company stock valued at $417,461,507. Corporate insiders own 4.23% of the company’s stock.

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.