Global Wealth Strategies & Associates Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Global Wealth Strategies & Associates increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,441 shares of the computer hardware maker’s stock after purchasing an additional 475 shares during the quarter. NVIDIA makes up 0.4% of Global Wealth Strategies & Associates’ portfolio, making the stock its 20th biggest holding. Global Wealth Strategies & Associates’ holdings in NVIDIA were worth $1,268,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Diversified Investment Strategies LLC purchased a new position in NVIDIA during the 1st quarter valued at approximately $357,000. Privium Fund Management UK Ltd purchased a new position in NVIDIA during the 1st quarter valued at approximately $2,635,000. PayPay Securities Corp grew its holdings in NVIDIA by 44.9% during the 1st quarter. PayPay Securities Corp now owns 184 shares of the computer hardware maker’s stock valued at $166,000 after buying an additional 57 shares in the last quarter. LVW Advisors LLC grew its holdings in NVIDIA by 16.0% during the 1st quarter. LVW Advisors LLC now owns 5,983 shares of the computer hardware maker’s stock valued at $5,406,000 after buying an additional 824 shares in the last quarter. Finally, Compass Ion Advisors LLC grew its holdings in NVIDIA by 1.7% during the 1st quarter. Compass Ion Advisors LLC now owns 10,410 shares of the computer hardware maker’s stock valued at $9,406,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total value of $12,462,000.00. Following the transaction, the chief executive officer now directly owns 76,854,995 shares in the company, valued at approximately $7,981,391,230.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total value of $12,462,000.00. Following the transaction, the chief executive officer now directly owns 76,854,995 shares in the company, valued at approximately $7,981,391,230.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction 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 owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,396,270 shares of company stock worth $279,825,927. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Up 2.0 %

NVDA opened at $135.40 on Monday. The stock’s fifty day moving average is $125.25 and its two-hundred day moving average is $116.24. The company has a market capitalization of $3.32 trillion, a P/E ratio of 63.57, a PEG ratio of 1.40 and a beta of 1.66. NVIDIA Co. has a 52 week low of $42.89 and a 52 week 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 quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the business posted $0.25 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. Analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding 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 generally an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Analysts Set New Price Targets

NVDA has been the subject of several research analyst reports. KeyCorp raised their price target on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Craig Hallum raised their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Mizuho raised their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. HSBC raised their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Five research 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’s stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $143.07.

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.