NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Lifted by Cypress Point Wealth Management LLC

Cypress Point Wealth Management LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 772.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,979 shares of the computer hardware maker’s stock after acquiring an additional 5,294 shares during the quarter. Cypress Point Wealth Management LLC’s holdings in NVIDIA were worth $739,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. grew its stake in NVIDIA by 1,900.0% during 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 in the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the 1st quarter valued at about $26,000. CGC Financial Services LLC purchased 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 shares of NVIDIA during the first quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.84, for a total transaction of $14,500,800.00. Following the sale, the chief executive officer now directly owns 80,574,995 shares in the company, valued at approximately $9,736,682,395.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $120.84, for a total value of $14,500,800.00. Following the transaction, the chief executive officer now owns 80,574,995 shares of the company’s stock, valued at approximately $9,736,682,395.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,692,303 shares of company stock worth $444,047,307. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 1.6 %

NASDAQ NVDA opened at $116.00 on Friday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month 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 stock has a market cap of $2.85 trillion, a PE ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67. The firm has a 50-day simple moving average of $115.99 and a 200 day simple moving average of $106.97.

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 analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company 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 initiated a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Argus upped their price objective on shares of NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. The Goldman Sachs Group reiterated a “buy” rating and set a $135.00 price objective on shares of NVIDIA in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Bank of America reaffirmed a “buy” rating and issued a $165.00 target price on shares of NVIDIA in a research report on Thursday, September 5th. Finally, Citigroup boosted their price target on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently 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.