Pekin Hardy Strauss Inc. Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Pekin Hardy Strauss Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,111.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,908 shares of the computer hardware maker’s stock after purchasing an additional 6,338 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in NVIDIA were worth $853,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Truepoint Inc. increased its position in shares of NVIDIA by 914.1% during 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 increased its position in shares of NVIDIA by 825.9% during 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 increased its position in shares of NVIDIA by 1,452.1% during 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. boosted its stake in NVIDIA by 901.8% during the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock worth $705,000 after buying an additional 5,140 shares during the last quarter. Finally, AMJ Financial Wealth Management boosted its stake in NVIDIA by 898.7% during the second quarter. AMJ Financial Wealth Management now owns 59,300 shares of the computer hardware maker’s stock worth $7,326,000 after buying an additional 53,362 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction 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 owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other 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 value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,876,270 shares of company stock worth $333,061,527. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.8 %

NASDAQ NVDA opened at $138.00 on Monday. 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 Co. has a 52 week low of $39.23 and a 52 week high of $140.89. The stock 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 firm has a 50 day moving average of $121.88 and a two-hundred day moving average of $112.51.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The firm’s revenue was up 122.4% on a year-over-year basis. As a group, research analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently declared 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NVDA shares. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. KeyCorp boosted their price objective on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Evercore ISI boosted their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Benchmark reissued a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Sanford C. Bernstein boosted their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

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.