NVIDIA Co. (NASDAQ:NVDA) Position Increased by UP Strategic Wealth Investment Advisors LLC

UP Strategic Wealth Investment Advisors LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 883.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,771 shares of the computer hardware maker’s stock after purchasing an additional 24,948 shares during the period. NVIDIA comprises approximately 5.2% of UP Strategic Wealth Investment Advisors LLC’s holdings, making the stock its 5th largest holding. UP Strategic Wealth Investment Advisors LLC’s holdings in NVIDIA were worth $3,431,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on NVDA. Wedbush restated an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Sanford C. Bernstein raised their price objective on shares of 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 assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.07.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $113.54, for a total value of $13,624,800.00. Following the completion of the transaction, the chief executive officer now directly owns 77,814,995 shares of the company’s stock, valued at approximately $8,835,114,532.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $113.54, for a total value of $13,624,800.00. Following the sale, the chief executive officer now owns 77,814,995 shares of the company’s stock, valued at approximately $8,835,114,532.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. 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 worth $318,992,727 over the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 2.8 %

NVIDIA stock opened at $139.56 on Thursday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $144.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm has a market capitalization of $3.42 trillion, a PE ratio of 65.46, a PEG ratio of 1.25 and a beta of 1.67. The business’s 50-day simple moving average is $123.56 and its 200-day simple moving average is $113.50.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. Equities research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current 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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has approved a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

About NVIDIA

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.