NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Park Place Capital Corp

Park Place Capital Corp boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 78.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,626 shares of the computer hardware maker’s stock after acquiring an additional 25,726 shares during the quarter. NVIDIA accounts for 2.0% of Park Place Capital Corp’s holdings, making the stock its 10th largest position. Park Place Capital Corp’s holdings in NVIDIA were worth $7,120,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Privium Fund Management UK Ltd purchased a new position in shares of NVIDIA in the first quarter valued at approximately $2,635,000. First Trust Direct Indexing L.P. increased its position in NVIDIA by 20.0% during the first quarter. First Trust Direct Indexing L.P. now owns 62,865 shares of the computer hardware maker’s stock worth $56,802,000 after purchasing an additional 10,478 shares during the last quarter. Accel Wealth Management raised its stake in NVIDIA by 16.8% during the first quarter. Accel Wealth Management now owns 2,776 shares of the computer hardware maker’s stock worth $2,508,000 after purchasing an additional 399 shares during the period. RBA Wealth Management LLC purchased a new stake in NVIDIA in the first quarter valued at $293,000. Finally, Core Wealth Partners LLC lifted its stake in shares of NVIDIA by 1.1% in the 1st quarter. Core Wealth Partners LLC now owns 1,906 shares of the computer hardware maker’s stock valued at $1,722,000 after purchasing an additional 21 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVIDIA news, 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 completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $147.63 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 one year low of $45.01 and a one year high of $149.77. The business has a fifty day moving average of $127.27 and a two-hundred day moving average of $117.94. The company has a market cap of $3.62 trillion, a P/E ratio of 69.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (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 business 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 company posted $0.25 EPS. The business’s revenue was up 122.4% on a year-over-year basis. As a group, analysts predict that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders 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 yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NVDA shares. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Tuesday, October 8th. Wells Fargo & Company increased their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. HSBC increased their price target on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a research report on Thursday, October 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.