NVIDIA Co. (NASDAQ:NVDA) Shares Bought by TrueMark Investments LLC

TrueMark Investments LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 899.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,418 shares of the computer hardware maker’s stock after acquiring an additional 54,375 shares during the quarter. NVIDIA comprises approximately 2.6% of TrueMark Investments LLC’s holdings, making the stock its biggest holding. TrueMark Investments LLC’s holdings in NVIDIA were worth $7,464,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NVDA. Hamilton Wealth LLC raised its holdings in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC grew its position in shares of NVIDIA by 2.5% during 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 during the last quarter. Curran Financial Partners LLC lifted its holdings in NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC boosted its stake in NVIDIA by 2.6% in 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 period. Finally, M. Kraus & Co grew its holdings in shares of NVIDIA by 2.0% during the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after purchasing an additional 13 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NASDAQ NVDA opened at $116.26 on Tuesday. The company has a 50 day simple moving average of $115.75 and a 200-day simple moving average of $107.41. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The firm has a market capitalization of $2.86 trillion, a price-to-earnings ratio of 67.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last issued 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid 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 dividend payout ratio (DPR) is presently 2.34%.

Insider Activity

In related news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the transaction, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at $512,509,435. The disclosure for this sale can be found here. Insiders sold a total of 4,472,303 shares of company stock worth $536,731,507 in the last three months. 4.23% of the stock is owned by insiders.

Analysts Set New Price Targets

NVDA has been the subject of a number of analyst reports. Truist Financial boosted their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Mizuho increased their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Raymond James upped their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Bank of America reissued a “buy” rating and issued a $165.00 price objective on shares of NVIDIA in a report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.