Blue Zone Wealth Advisors LLC Has $2.66 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Blue Zone Wealth Advisors LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 221.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,861 shares of the computer hardware maker’s stock after buying an additional 15,061 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in NVIDIA were worth $2,655,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. increased its position in NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Truepoint Inc. grew its stake in shares of NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after buying an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares during the last quarter. Legal & General Group Plc raised its position in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd lifted its stake in NVIDIA by 1,106.0% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after acquiring an additional 488,148 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the transaction, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last quarter. 4.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird increased their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their price target on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” 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. Finally, TD Cowen upgraded NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. 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 stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Down 0.8 %

NASDAQ NVDA opened at $147.63 on Friday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $127.27 and its two-hundred day moving average is $117.94. The company has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 69.25, a PEG ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating 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 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 earned $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA announced that its board has authorized a stock repurchase 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.88%.

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.