SkyOak Wealth LLC Has $4.76 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

SkyOak Wealth LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 926.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,497 shares of the computer hardware maker’s stock after purchasing an additional 34,747 shares during the quarter. NVIDIA makes up about 1.1% of SkyOak Wealth LLC’s investment portfolio, making the stock its 23rd largest position. SkyOak Wealth LLC’s holdings in NVIDIA were worth $4,756,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NVDA. Vanguard Group Inc. boosted its stake in NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after buying an additional 73,589,208 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in NVIDIA by 696.6% in the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after buying an additional 71,757,065 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NVDA shares. Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Bank of America lifted their price objective on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group lifted their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 11th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Down 0.1 %

NVDA stock opened at $143.59 on Wednesday. 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 50 day moving average price of $123.13 and a two-hundred day moving average price of $113.31. The company has a market cap of $3.53 trillion, a price-to-earnings ratio of 83.97, a P/E/G ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating 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 firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue was up 122.4% compared to the same quarter last year. Analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA announced that its board has authorized a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,756,270 shares of company stock valued at $318,992,727 over the last three months. Insiders own 4.23% of the company’s stock.

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.