Retirement Investment Advisors Inc. Acquires New Holdings in NVIDIA Co. (NASDAQ:NVDA)

Retirement Investment Advisors Inc. purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,564 shares of the computer hardware maker’s stock, valued at approximately $1,305,000. NVIDIA makes up about 0.2% of Retirement Investment Advisors Inc.’s investment portfolio, making the stock its 23rd largest position.

Other hedge funds also recently added to or reduced their stakes in the company. GM Advisory Group LLC boosted its holdings in shares of NVIDIA by 865.7% in the 2nd quarter. GM Advisory Group LLC now owns 255,231 shares of the computer hardware maker’s stock valued at $31,531,000 after acquiring an additional 228,801 shares during the last quarter. Trust Investment Advisors increased its stake in shares of NVIDIA by 909.2% in the 2nd quarter. Trust Investment Advisors now owns 37,079 shares of the computer hardware maker’s stock valued at $4,581,000 after purchasing an additional 33,405 shares in the last quarter. Ieq Capital LLC increased its position in shares of NVIDIA by 973.9% in the second quarter. Ieq Capital LLC now owns 2,061,053 shares of the computer hardware maker’s stock valued at $254,622,000 after buying an additional 1,869,128 shares in the last quarter. Brighton Jones LLC raised its position in NVIDIA by 878.9% during the second quarter. Brighton Jones LLC now owns 336,749 shares of the computer hardware maker’s stock worth $41,602,000 after acquiring an additional 302,348 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of NVIDIA by 936.1% during the 2nd quarter. Intech Investment Management LLC now owns 4,585,627 shares of the computer hardware maker’s stock worth $566,508,000 after purchasing an additional 4,143,021 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,756,270 shares of company stock valued at $318,992,727 over the last quarter. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Down 2.8 %

NVDA stock opened at $139.56 on Thursday. The business’s 50-day simple moving average is $123.56 and its 200 day simple moving average is $113.50. 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 company has a market cap of $3.42 trillion, a PE ratio of 65.46, a price-to-earnings-growth 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 issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS 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 business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the company posted $0.25 earnings per share. NVIDIA’s revenue was up 122.4% on a year-over-year basis. On average, research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Analysts Set New Price Targets

NVDA has been the topic of several research reports. Robert W. Baird raised their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Bank of America raised their price objective on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Wedbush restated an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. HSBC raised their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Company 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.