NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Lifted by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 884.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 95,786 shares of the computer hardware maker’s stock after purchasing an additional 86,057 shares during the period. NVIDIA accounts for about 3.4% of Trinity Legacy Partners LLC’s portfolio, making the stock its 5th largest position. Trinity Legacy Partners LLC’s holdings in NVIDIA were worth $11,833,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the 1st quarter valued at about $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA in the 1st quarter valued at about $30,000. Norwood Financial Corp bought a new stake in shares of NVIDIA in the 1st quarter valued at about $45,000. Finally, Coston McIsaac & Partners raised its position in shares of NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Mizuho boosted their target price on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Bank of America upped their target price on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Truist Financial lifted their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Finally, New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Price Performance

NVIDIA stock opened at $140.52 on Tuesday. The company has a fifty day simple moving average of $124.46 and a 200-day simple moving average of $114.81. 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 firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 65.91, a PEG ratio of 1.50 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $144.42.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) 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 company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

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

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of the company’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 transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,636,270 shares of company stock valued at $305,367,927. 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.