NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Clearstead Trust LLC

Clearstead Trust LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 949.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,852 shares of the computer hardware maker’s stock after buying an additional 73,148 shares during the quarter. NVIDIA accounts for about 2.5% of Clearstead Trust LLC’s portfolio, making the stock its 8th largest holding. Clearstead Trust LLC’s holdings in NVIDIA were worth $9,989,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’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 transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. 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 three months. 4.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NVDA. KeyCorp upped their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Truist Financial boosted their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Mizuho boosted their target price on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Trading Up 0.8 %

NASDAQ:NVDA opened at $138.00 on Monday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.89. The firm has a 50-day moving average price of $121.88 and a two-hundred day moving average price of $112.51. 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 debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the company posted $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed 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 is 1.88%.

NVIDIA Company 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.