Sigma Investment Counselors Inc. Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Sigma Investment Counselors Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 763.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,799 shares of the computer hardware maker’s stock after buying an additional 171,363 shares during the period. NVIDIA comprises approximately 1.2% of Sigma Investment Counselors Inc.’s holdings, making the stock its 18th largest holding. Sigma Investment Counselors Inc.’s holdings in NVIDIA were worth $23,942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NVDA. EQ LLC purchased a new stake in shares of NVIDIA in the 2nd quarter worth approximately $247,000. Tempus Wealth Planning LLC raised its stake in NVIDIA by 913.1% in the second quarter. Tempus Wealth Planning LLC now owns 71,496 shares of the computer hardware maker’s stock worth $8,833,000 after buying an additional 64,439 shares in the last quarter. Overbrook Management Corp boosted its position in NVIDIA by 730.6% during the 2nd quarter. Overbrook Management Corp now owns 261,947 shares of the computer hardware maker’s stock valued at $32,361,000 after acquiring an additional 230,410 shares in the last quarter. Dodds Wealth LLC increased its holdings in shares of NVIDIA by 1,214.8% in the 2nd quarter. Dodds Wealth LLC now owns 12,530 shares of the computer hardware maker’s stock valued at $1,646,000 after acquiring an additional 11,577 shares during the period. Finally, POM Investment Strategies LLC raised its position in shares of NVIDIA by 1,480.5% in the 2nd quarter. POM Investment Strategies LLC now owns 2,750 shares of the computer hardware maker’s stock worth $340,000 after acquiring an additional 2,576 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the sale, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The disclosure for this sale can be found here. Insiders have sold 3,845,633 shares of company stock worth $465,330,122 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.9 %

NVDA stock opened at $116.78 on Tuesday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm’s fifty day moving average is $117.19 and its 200 day moving average is $106.39. The firm has a market cap of $2.87 trillion, a PE ratio of 68.29, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. On average, research analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA declared that its Board of Directors has authorized a share repurchase 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 often a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Craig Hallum lifted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Sanford C. Bernstein increased their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Argus lifted their price target on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $135.00 price target on shares of NVIDIA in a research report on Monday, August 19th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $142.10.

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.