Ashton Thomas Private Wealth LLC Has $32.14 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Ashton Thomas Private Wealth LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 854.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 260,132 shares of the computer hardware maker’s stock after buying an additional 232,889 shares during the period. NVIDIA accounts for about 1.8% of Ashton Thomas Private Wealth LLC’s portfolio, making the stock its 5th largest position. Ashton Thomas Private Wealth LLC’s holdings in NVIDIA were worth $32,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 1,900.0% in the 2nd 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 period. FPC Investment Advisory Inc. bought a new position in NVIDIA in the first quarter worth about $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the first quarter valued at approximately $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the transaction, the director now owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $128.92, for a total value of $15,470,400.00. Following the sale, the chief executive officer now directly owns 78,894,995 shares of the company’s stock, valued at $10,171,142,755.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,201,270 shares of company stock worth $371,285,277 over the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 1.6 %

Shares of NVDA stock opened at $134.81 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company’s 50-day moving average price is $117.48 and its 200-day moving average price is $110.17. The stock has a market cap of $3.32 trillion, a price-to-earnings ratio of 78.84, a PEG ratio of 1.05 and a beta of 1.67.

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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its board has approved a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders 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 dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 2.34%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NVDA. Bank of America restated a “buy” rating and set a $165.00 price target on shares of NVIDIA in a research note on Thursday, September 5th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. KeyCorp raised their target price on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Westpark Capital boosted their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company raised their price objective on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

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.