NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Wright Investors Service Inc.

Wright Investors Service Inc. lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 934.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,142 shares of the computer hardware maker’s stock after acquiring an additional 105,822 shares during the quarter. NVIDIA makes up approximately 3.8% of Wright Investors Service Inc.’s holdings, making the stock its 3rd largest holding. Wright Investors Service Inc.’s holdings in NVIDIA were worth $14,472,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Aveo Capital Partners LLC raised its stake in shares of NVIDIA by 30.5% in the fourth quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after acquiring an additional 549 shares during the last quarter. Gryphon Financial Partners LLC raised its position in NVIDIA by 60.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after purchasing an additional 5,496 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in NVIDIA by 112.5% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 710,612 shares of the computer hardware maker’s stock worth $345,054,000 after buying an additional 376,274 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in NVIDIA in the 4th quarter valued at $2,693,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at $211,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Down 1.6 %

NVIDIA stock opened at $116.00 on Friday. The company has a market cap of $2.85 trillion, a price-to-earnings ratio of 67.84, a P/E/G ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The firm has a 50-day moving average of $115.99 and a 200-day moving average of $106.97. 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 issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the business posted $0.25 EPS. NVIDIA’s revenue was up 122.4% on a year-over-year basis. On average, equities analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA declared that its board has initiated a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

Insider Activity

In related news, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark A. Stevens sold 156,023 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $129.81, for a total value of $20,253,345.63. Following the completion of the transaction, the director now owns 8,585,217 shares of the company’s stock, valued at $1,114,447,018.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,692,303 shares of company stock worth $444,047,307. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Mizuho raised their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, HSBC upped their target price on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.