Central Asset Investments & Management Holdings HK Ltd Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Central Asset Investments & Management Holdings HK Ltd boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,696.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 236,162 shares of the computer hardware maker’s stock after buying an additional 223,014 shares during the period. NVIDIA makes up about 10.9% of Central Asset Investments & Management Holdings HK Ltd’s investment portfolio, making the stock its biggest position. Central Asset Investments & Management Holdings HK Ltd’s holdings in NVIDIA were worth $29,175,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. raised its stake in shares of 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 shares of NVIDIA during the 1st quarter worth about $26,000. CGC Financial Services LLC bought a new stake in NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter valued at $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVDA stock opened at $143.71 on Tuesday. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $143.71. The stock has a market capitalization of $3.53 trillion, a P/E ratio of 67.41, a PEG ratio of 1.25 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $122.58 and its 200 day moving average is $112.92.

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

NVIDIA Cuts Dividend

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

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

Analysts Set New Price Targets

A number of research analysts have commented on NVDA shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Jefferies Financial Group boosted their price objective on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. KeyCorp increased 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. Finally, Benchmark restated a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a report 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was 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 accessible through the SEC website. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’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 directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,876,270 shares of company stock valued at $333,061,527. 4.23% of the stock is currently owned by corporate insiders.

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.