Gateway Wealth Partners LLC Has $2.63 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Gateway Wealth Partners LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,133.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,309 shares of the computer hardware maker’s stock after buying an additional 19,581 shares during the period. Gateway Wealth Partners LLC’s holdings in NVIDIA were worth $2,633,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Diversified Investment Strategies LLC acquired a new position in NVIDIA during the first quarter valued at approximately $357,000. Privium Fund Management UK Ltd bought a new stake in shares of NVIDIA during the 1st quarter worth approximately $2,635,000. Astoria Portfolio Advisors LLC. boosted its holdings in shares of NVIDIA by 3.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 9,132 shares of the computer hardware maker’s stock valued at $7,853,000 after buying an additional 264 shares during the last quarter. OneAscent Wealth Management LLC increased its holdings in NVIDIA by 49.2% during the first quarter. OneAscent Wealth Management LLC now owns 785 shares of the computer hardware maker’s stock worth $709,000 after buying an additional 259 shares during the last quarter. Finally, OneAscent Financial Services LLC raised its position in NVIDIA by 6.5% during the first quarter. OneAscent Financial Services LLC now owns 5,920 shares of the computer hardware maker’s stock worth $5,349,000 after acquiring an additional 359 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NVDA shares. Truist Financial lifted their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. The Goldman Sachs Group boosted their target price on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Trading Down 4.7 %

Shares of NVDA opened at $132.76 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $144.42. The firm has a market cap of $3.26 trillion, a price-to-earnings ratio of 62.33, a PEG ratio of 1.50 and a beta of 1.67. The business’s fifty day moving average is $125.13 and its 200-day moving average is $115.47.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 122.4% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued 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 was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA announced that its board has approved a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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. 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 2,516,270 shares of company stock valued at $291,803,127 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

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.