NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Patron Partners LLC

Patron Partners LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 947.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,468 shares of the computer hardware maker’s stock after purchasing an additional 52,888 shares during the period. NVIDIA comprises approximately 4.2% of Patron Partners LLC’s holdings, making the stock its 3rd biggest holding. Patron Partners LLC’s holdings in NVIDIA were worth $7,223,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the 1st quarter worth about $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at about $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. Benchmark reiterated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Truist Financial upped their price objective on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. 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. TD Cowen raised NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total value of $15,326,250.00. Following the transaction, the director now directly owns 8,255,117 shares of the company’s stock, valued at $1,012,159,895.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,577,403 shares of company stock valued at $420,166,534 in the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 4.0 %

Shares of NVDA stock opened at $132.89 on Wednesday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a market capitalization of $3.27 trillion, a PE ratio of 77.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The firm has a 50 day moving average price of $116.58 and a two-hundred day moving average price of $109.74. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. As a group, analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is 2.34%.

NVIDIA announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

NVIDIA Company 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.