NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 914.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,143 shares of the computer hardware maker’s stock after acquiring an additional 23,566 shares during the period. NVIDIA accounts for 2.4% of Redwood Wealth Management Group LLC’s holdings, making the stock its 7th biggest position. Redwood Wealth Management Group LLC’s holdings in NVIDIA were worth $3,230,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the first quarter valued at about $26,000. CGC Financial Services LLC acquired 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 shares of NVIDIA during the first quarter valued at about $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $150.00 target price on shares of NVIDIA in a research report on Thursday, October 10th. Mizuho lifted their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Craig Hallum upped their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Robert W. Baird raised their target price on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group increased their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Up 0.8 %

Shares of NASDAQ:NVDA opened at $138.00 on Friday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.89. The company has a market cap of $3.39 trillion, a PE ratio of 80.70, a P/E/G ratio of 1.20 and a beta of 1.67. 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’s 50-day moving average is $121.88 and its 200 day moving average is $112.19.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 EPS. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

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 issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA declared that its board has authorized a stock repurchase plan 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of the company’s 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 transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 8,100,117 shares in the company, 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 quarter, insiders have sold 2,996,270 shares of company stock worth $347,729,127. Company insiders own 4.23% of the company’s stock.

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.