NVIDIA Co. (NASDAQ:NVDA) Stake Raised by Invera Wealth Advisors LLC

Invera Wealth Advisors LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 833.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,534 shares of the computer hardware maker’s stock after acquiring an additional 40,657 shares during the quarter. NVIDIA accounts for 5.9% of Invera Wealth Advisors LLC’s portfolio, making the stock its 2nd largest position. Invera Wealth Advisors LLC’s holdings in NVIDIA were worth $5,801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Concentric Wealth Management LLC bought a new stake in NVIDIA during the 4th quarter valued at $220,000. Chilton Investment Co. Inc. raised its holdings in shares of NVIDIA by 53.3% in the fourth quarter. Chilton Investment Co. Inc. now owns 964 shares of the computer hardware maker’s stock valued at $477,000 after acquiring an additional 335 shares in the last quarter. Brevan Howard Capital Management LP lifted its stake in NVIDIA by 640.5% in the fourth quarter. Brevan Howard Capital Management LP now owns 22,185 shares of the computer hardware maker’s stock worth $10,986,000 after acquiring an additional 19,189 shares during the period. Biltmore Family Office LLC grew its holdings in NVIDIA by 3.1% during the 4th quarter. Biltmore Family Office LLC now owns 2,704 shares of the computer hardware maker’s stock worth $1,339,000 after acquiring an additional 82 shares in the last quarter. Finally, Barden Capital Management Inc. increased its position in NVIDIA by 11.7% during the 4th quarter. Barden Capital Management Inc. now owns 8,226 shares of the computer hardware maker’s stock valued at $4,074,000 after purchasing an additional 862 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Up 1.6 %

Shares of NASDAQ 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 market capitalization 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. The company has a 50 day simple moving average of $117.48 and a 200-day simple moving average of $110.17. 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 released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. On average, equities research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors 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 dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 2.34%.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the sale, the chief executive officer now directly owns 78,894,995 shares in the company, valued at $10,171,142,755.40. This 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 is available at the SEC website. In other news, 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 completion of the transaction, the chief executive officer now owns 78,894,995 shares in the company, valued at approximately $10,171,142,755.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,201,270 shares of company stock valued at $371,285,277. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Tuesday. DA Davidson reaffirmed a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Needham & Company LLC boosted their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their target price on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Five 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 stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus 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.