Invst LLC Purchases 48,890 Shares of NVIDIA Co. (NASDAQ:NVDA)

Invst LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 971.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,922 shares of the computer hardware maker’s stock after buying an additional 48,890 shares during the period. Invst LLC’s holdings in NVIDIA were worth $6,703,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NVDA. Covington Investment Advisors Inc. raised its stake in NVIDIA by 2,053.8% in the second quarter. Covington Investment Advisors Inc. now owns 178,205 shares of the computer hardware maker’s stock valued at $22,015,000 after purchasing an additional 169,931 shares in the last quarter. Second Line Capital LLC increased its holdings in shares of NVIDIA by 882.1% in the 2nd quarter. Second Line Capital LLC now owns 19,780 shares of the computer hardware maker’s stock worth $2,444,000 after buying an additional 17,766 shares during the last quarter. Seaport Global Advisors LLC raised its position in shares of NVIDIA by 355.0% during the 2nd quarter. Seaport Global Advisors LLC now owns 15,867 shares of the computer hardware maker’s stock valued at $1,960,000 after buying an additional 12,380 shares in the last quarter. Twin Lakes Capital Management LLC lifted its holdings in shares of NVIDIA by 900.2% during the 2nd quarter. Twin Lakes Capital Management LLC now owns 8,732 shares of the computer hardware maker’s stock worth $1,079,000 after acquiring an additional 7,859 shares during the last quarter. Finally, Wallace Advisory Group LLC grew its position in NVIDIA by 588.9% in the second quarter. Wallace Advisory Group LLC now owns 8,542 shares of the computer hardware maker’s stock worth $1,055,000 after acquiring an additional 7,302 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVDA. Evercore ISI raised their price target on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Wedbush reissued an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Sanford C. Bernstein lifted their price target 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. Finally, Truist Financial upped their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Trading Down 4.7 %

NASDAQ NVDA opened at $132.76 on Friday. The firm has a market capitalization of $3.26 trillion, a PE ratio of 62.33, a P/E/G ratio of 1.50 and a beta of 1.67. The stock’s 50 day moving average is $125.13 and its 200 day moving average is $115.47. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced 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. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. Research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. 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 has approved a share buyback plan 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Mark A. Stevens sold 155,000 shares of the company’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 sale, the director now 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 filing with the SEC, which is available at this hyperlink. In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,516,270 shares of company stock worth $291,803,127. 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.