Diversify Wealth Management LLC Invests $10.47 Million in NVIDIA Co. (NASDAQ:NVDA)

Diversify Wealth Management LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 84,783 shares of the computer hardware maker’s stock, valued at approximately $10,474,000. NVIDIA accounts for approximately 1.2% of Diversify Wealth Management LLC’s investment portfolio, making the stock its 16th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at about $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA in the 1st quarter valued at about $30,000. Norwood Financial Corp acquired a new stake in NVIDIA in the 1st quarter valued at about $45,000. Finally, Coston McIsaac & Partners grew its stake in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,996,270 shares of company stock worth $347,729,127. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Melius Research increased their price objective on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, June 21st. The Goldman Sachs Group increased their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Evercore ISI upped their target price on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Sanford C. Bernstein upped their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.46.

NVIDIA Stock Up 0.9 %

NVDA stock opened at $136.93 on Friday. The firm has a fifty day moving average price of $121.22 and a two-hundred day moving average price of $111.86. 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 Co. has a 1-year low of $39.23 and a 1-year high of $140.89. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 80.08, a PEG ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating 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 business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

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