Sargent Investment Group LLC Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Sargent Investment Group LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 1,206.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,705 shares of the computer hardware maker’s stock after acquiring an additional 36,666 shares during the period. NVIDIA comprises 1.0% of Sargent Investment Group LLC’s portfolio, making the stock its 25th largest holding. Sargent Investment Group LLC’s holdings in NVIDIA were worth $4,905,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the first quarter worth about $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA in the first quarter valued at about $30,000. Norwood Financial Corp acquired a new stake in shares of NVIDIA during the 1st quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners boosted its stake in shares of NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 0.8 %

NVDA stock opened at $138.00 on Monday. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 64.73, a PEG 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. The business has a fifty day simple moving average of $121.88 and a 200-day simple moving average of $112.51. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its Board of Directors has approved a stock 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

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 stock was sold at an average price of $117.24, for a total transaction of $14,068,800.00. Following the completion of the sale, the chief executive officer now directly owns 78,054,995 shares in the company, valued at $9,151,167,613.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief executive officer now owns 78,054,995 shares of the company’s stock, valued at $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 sold 2,876,270 shares of company stock worth $333,061,527 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NVDA shares. Mizuho raised their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. The Goldman Sachs Group lifted their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Citigroup increased their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Westpark Capital lifted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group increased their price target on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently 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.