Raymond James Trust N.A. Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Raymond James Trust N.A. raised its position in NVIDIA Co. (NASDAQ:NVDA) by 865.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 701,821 shares of the computer hardware maker’s stock after purchasing an additional 629,150 shares during the quarter. NVIDIA accounts for about 2.0% of Raymond James Trust N.A.’s holdings, making the stock its 4th biggest holding. Raymond James Trust N.A.’s holdings in NVIDIA were worth $86,703,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NVDA. Baader Bank Aktiengesellschaft lifted its holdings in NVIDIA by 34.9% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock worth $21,896,000 after buying an additional 11,445 shares during the period. Shared Vision Wealth Group LLC bought a new position in shares of NVIDIA during the fourth quarter worth about $269,000. OMNI 360 Wealth Inc. acquired a new position in shares of NVIDIA in the fourth quarter worth approximately $240,000. Monolith Management Ltd bought a new stake in NVIDIA in the fourth quarter valued at approximately $9,483,000. Finally, Pacific Sun Financial Corp acquired a new stake in NVIDIA during the 4th quarter valued at approximately $214,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $116.78 on Tuesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.87 trillion, a PE ratio of 68.29, a PEG ratio of 1.06 and a beta of 1.67. The stock’s 50 day moving average price is $117.19 and its 200-day moving average price is $106.39. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. 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 posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA announced that its board has initiated a stock buyback program 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the sale, the chief executive officer now directly owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the sale, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA 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 transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. Insiders sold 3,845,633 shares of company stock worth $465,330,122 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVDA. Westpark Capital boosted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Benchmark restated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Loop Capital reiterated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Monday, August 26th. Oppenheimer reissued an “outperform” rating and issued a $110.00 price objective on shares of NVIDIA in a research report on Thursday, May 23rd. Finally, Citigroup upped their target price on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $142.10.

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.