2,180 Shares in NVIDIA Co. (NASDAQ:NVDA) Purchased by Conscious Wealth Investments LLC

Conscious Wealth Investments LLC acquired a new position in NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,180 shares of the computer hardware maker’s stock, valued at approximately $267,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Truepoint Inc. raised its holdings in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares in the last quarter. Consolidated Planning Corp raised its holdings in NVIDIA by 825.9% in the second quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock worth $10,394,000 after purchasing an additional 75,046 shares in the last quarter. International Private Wealth Advisors LLC raised its holdings in NVIDIA by 1,452.1% in the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock worth $928,000 after purchasing an additional 7,028 shares in the last quarter. Lafayette Investments Inc. raised its holdings in NVIDIA by 901.8% in the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock worth $705,000 after purchasing an additional 5,140 shares in the last quarter. Finally, AMJ Financial Wealth Management increased its holdings in shares of NVIDIA by 898.7% during the second quarter. AMJ Financial Wealth Management now owns 59,300 shares of the computer hardware maker’s stock valued at $7,326,000 after acquiring an additional 53,362 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 0.8 %

Shares of NASDAQ NVDA opened at $138.00 on Monday. The company’s 50-day simple moving average is $121.88 and its 200-day simple moving average is $112.51. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.89. The firm has a market cap of $3.39 trillion, a price-to-earnings ratio of 64.73, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal 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 given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NVDA shares. DA Davidson restated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Truist Financial upped their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Tuesday, August 6th. Wells Fargo & Company upped their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Five 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 stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total value of $14,068,800.00. Following the transaction, the chief executive officer now directly owns 78,054,995 shares of the company’s stock, valued at approximately $9,151,167,613.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total transaction of $14,068,800.00. Following the completion of the transaction, the chief executive officer now directly owns 78,054,995 shares in the company, valued at approximately $9,151,167,613.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,876,270 shares of company stock worth $333,061,527 over the last 90 days. 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.