C2C Wealth Management LLC Purchases Shares of 4,415 NVIDIA Co. (NASDAQ:NVDA)

C2C Wealth Management LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,415 shares of the computer hardware maker’s stock, valued at approximately $545,000.

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the first quarter worth approximately $27,000. HBC Financial Services PLLC acquired a new position in NVIDIA in the first quarter valued at approximately $30,000. Norwood Financial Corp purchased a new position in NVIDIA in the first quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners raised its holdings in 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 purchasing an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $113.04, for a total value of $13,564,800.00. Following the sale, the chief executive officer now directly owns 77,334,995 shares in the company, valued at $8,741,947,834.80. This 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 through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated 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 sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,636,270 shares of company stock worth $305,367,927 in the last three months. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVDA. Morgan Stanley restated an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a report on Thursday, October 10th. Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Bank of America boosted their target price on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. HSBC raised their price target on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Loop Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Five investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Trading Up 0.8 %

Shares of NVIDIA stock opened at $141.54 on Friday. The company has a 50-day moving average of $123.91 and a two-hundred day moving average of $113.68. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42. 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 stock has a market cap of $3.48 trillion, a PE ratio of 82.77, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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. The firm had revenue of $30.04 billion during 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%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. On average, research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding 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 often a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid 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 (DPR) is presently 2.34%.

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.