NRI Wealth Management LC Makes New $11.69 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

NRI Wealth Management LC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 94,631 shares of the computer hardware maker’s stock, valued at approximately $11,691,000. NVIDIA makes up 9.1% of NRI Wealth Management LC’s holdings, making the stock its 4th largest holding.

A number of other large investors also recently modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing 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 shares of NVIDIA in the 2nd quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at about $27,000. 65.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was 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 directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,201,270 shares of company stock worth $371,285,277 over the last three months. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Tuesday. Robert W. Baird boosted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, William Blair initiated coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Stock Up 1.6 %

Shares of NVDA opened at $134.81 on Friday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a 50 day simple moving average of $117.48 and a two-hundred day simple moving average of $110.17. The firm has a market cap of $3.32 trillion, a P/E ratio of 78.84, a P/E/G 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 (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. On average, analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

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.