Wealth Dimensions Group Ltd. Purchases 32,578 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wealth Dimensions Group Ltd. increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 804.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,630 shares of the computer hardware maker’s stock after buying an additional 32,578 shares during the period. NVIDIA accounts for 1.3% of Wealth Dimensions Group Ltd.’s portfolio, making the stock its 17th largest position. Wealth Dimensions Group Ltd.’s holdings in NVIDIA were worth $4,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Hamilton Wealth LLC raised its holdings in shares of NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares in the last quarter. Brooklyn FI LLC raised its holdings in shares of NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares in the last quarter. Curran Financial Partners LLC raised its holdings in shares of NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC raised its holdings in shares of NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after purchasing an additional 12 shares in the last quarter. Finally, M. Kraus & Co raised its holdings in shares of NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after purchasing an additional 13 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $138.00 on Friday. The company’s fifty day moving average price is $121.88 and its 200 day moving average price is $112.35. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.89. The company has a market capitalization of $3.39 trillion, a PE ratio of 64.73, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

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, 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 firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has authorized a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NVDA. Robert W. Baird boosted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Morgan Stanley restated an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a report on Thursday, October 10th. DA Davidson reiterated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Westpark Capital boosted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Five 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 MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The shares were 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 directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This 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 hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction 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 directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This 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 hyperlink. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,996,270 shares of company stock valued at $347,729,127. Corporate insiders own 4.23% of the company’s stock.

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.