Pitti Group Wealth Management LLC Has $271,000 Stake in NVIDIA Co. (NASDAQ:NVDA)

Pitti Group Wealth Management LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,193 shares of the computer hardware maker’s stock after acquiring an additional 282 shares during the period. Pitti Group Wealth Management LLC’s holdings in NVIDIA were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 1,900.0% during 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 during the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter valued at about $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the first quarter valued at about $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction 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 sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction 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 sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the completion of the sale, the chief executive officer now owns 77,814,995 shares in the company, valued at approximately $8,835,114,532.30. This trade 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 2,876,270 shares of company stock worth $333,061,527. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading 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 fifty-two week low of $39.23 and a fifty-two week high of $140.89. The firm has a market capitalization of $3.39 trillion, a P/E ratio of 64.73, a P/E/G ratio of 1.25 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.

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

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding 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 an indication that the company’s leadership believes its stock is undervalued.

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 $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Sanford C. Bernstein upped their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Robert W. Baird upped their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Raymond James upped their target price on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Five investment 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. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target 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.