NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 902.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,750 shares of the computer hardware maker’s stock after acquiring an additional 4,276 shares during the quarter. Van Cleef Asset Management Inc’s holdings in NVIDIA were worth $587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the 1st quarter worth approximately $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the 2nd quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the first quarter valued at $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NVDA shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Morgan Stanley restated an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Finally, Needham & Company LLC increased their target price on NVIDIA from $120.00 to $145.00 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 given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $142.46.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $134.80 on Monday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 63.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The business has a 50 day simple moving average of $118.54 and a 200-day simple moving average of $110.89.

NVIDIA (NASDAQ:NVDA) last issued its 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 122.4% compared to the same quarter last year. As a group, equities research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its board has authorized a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,236,270 shares of company stock worth $376,316,727. 4.23% of the stock is currently owned by company insiders.

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.