NVIDIA Co. (NASDAQ:NVDA) Stock Position Raised by WD Rutherford LLC

WD Rutherford LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 778.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,980 shares of the computer hardware maker’s stock after buying an additional 115,179 shares during the period. NVIDIA comprises 8.1% of WD Rutherford LLC’s investment portfolio, making the stock its biggest holding. WD Rutherford LLC’s holdings in NVIDIA were worth $16,058,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the first quarter worth about $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the second quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the first quarter worth about $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The disclosure for this sale can be found here. Insiders have sold a total of 3,845,633 shares of company stock worth $465,330,122 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $116.78 on Tuesday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. 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 firm has a market capitalization of $2.87 trillion, a P/E ratio of 68.29, a PEG ratio of 1.06 and a beta of 1.67. The business has a 50-day moving average of $117.19 and a 200-day moving average of $106.39.

NVIDIA (NASDAQ:NVDA) last announced its 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. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NVDA shares. Mizuho upped their target price on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC raised their target price on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. DA Davidson restated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Citigroup raised their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.10.

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.