NewEdge Advisors LLC Has $372.78 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

NewEdge Advisors LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,179.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,275,422 shares of the computer hardware maker’s stock after purchasing an additional 3,019,514 shares during the quarter. NVIDIA makes up 2.7% of NewEdge Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. NewEdge Advisors LLC’s holdings in NVIDIA were worth $372,781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Diversified Investment Strategies LLC bought a new position in shares of NVIDIA during the first quarter worth about $357,000. Privium Fund Management UK Ltd bought a new position in shares of NVIDIA during the first quarter worth about $2,635,000. Astoria Portfolio Advisors LLC. raised its position in shares of NVIDIA by 3.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 9,132 shares of the computer hardware maker’s stock worth $7,853,000 after acquiring an additional 264 shares during the last quarter. OneAscent Wealth Management LLC raised its position in shares of 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 acquiring an additional 259 shares during the last quarter. Finally, OneAscent Financial Services LLC raised its position in shares of 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 during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 4.7 %

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

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

NVIDIA declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $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 can be accessed through this hyperlink. In related news, Director Mark A. Stevens sold 125,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the sale, the director now directly owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on 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 completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,516,270 shares of company stock valued at $291,803,127 over the last ninety days. 4.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVDA. KeyCorp raised their price objective on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Benchmark reiterated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Wedbush restated an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Craig Hallum lifted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, DA Davidson reiterated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

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.