Pineridge Advisors LLC Purchases 1,177 Shares of NVIDIA Co. (NASDAQ:NVDA)

Pineridge Advisors LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 1,050.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,289 shares of the computer hardware maker’s stock after purchasing an additional 1,177 shares during the quarter. Pineridge Advisors LLC’s holdings in NVIDIA were worth $159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hamilton Wealth LLC boosted its position in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares during the last quarter. Brooklyn FI LLC boosted its holdings in shares of NVIDIA by 2.5% in the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC boosted its holdings in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC grew its position in NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after buying an additional 12 shares during the period. Finally, M. Kraus & Co increased its holdings in NVIDIA by 2.0% during the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after buying an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Truist Financial boosted their price target on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Morgan Stanley raised their price objective on NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Susquehanna boosted their price objective on NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, June 10th. Finally, Wells Fargo & Company increased their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.10.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total value of $13,419,600.00. Following the sale, the chief executive officer now directly owns 75,655,836 shares of the company’s stock, valued at approximately $8,460,592,139.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now owns 3,939,350 shares in the company, valued at approximately $512,509,435. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total value of $13,419,600.00. Following the completion of the sale, the chief executive officer now owns 75,655,836 shares in the company, valued at approximately $8,460,592,139.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,845,633 shares of company stock valued at $465,330,122. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 1.9 %

Shares of NVDA stock opened at $116.78 on Tuesday. The company has a market cap of $2.87 trillion, a PE ratio of 68.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock’s 50 day simple moving average is $117.19 and its two-hundred day simple moving average is $106.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The company 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 quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. Research analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.