1834 Investment Advisors Co. Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

1834 Investment Advisors Co. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 709.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,410 shares of the computer hardware maker’s stock after purchasing an additional 23,149 shares during the period. 1834 Investment Advisors Co.’s holdings in NVIDIA were worth $3,263,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Aveo Capital Partners LLC lifted its position in NVIDIA by 30.5% during the fourth quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after purchasing an additional 549 shares during the period. Gryphon Financial Partners LLC lifted its position in NVIDIA by 60.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after purchasing an additional 5,496 shares during the period. Allegheny Financial Group LTD lifted its position in NVIDIA by 13.8% during the fourth quarter. Allegheny Financial Group LTD now owns 711 shares of the computer hardware maker’s stock valued at $352,000 after purchasing an additional 86 shares during the period. Missouri Trust & Investment Co lifted its position in NVIDIA by 41.8% during the fourth quarter. Missouri Trust & Investment Co now owns 1,768 shares of the computer hardware maker’s stock valued at $876,000 after purchasing an additional 521 shares during the period. Finally, Summit X LLC lifted its position in NVIDIA by 13.9% during the fourth quarter. Summit X LLC now owns 14,605 shares of the computer hardware maker’s stock valued at $7,236,000 after purchasing an additional 1,779 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Citigroup lifted their price target on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Mizuho lifted their price target on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, William Blair began coverage on shares of NVIDIA in a research note on Wednesday. They set an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Stock Performance

NVIDIA stock opened at $116.00 on Friday. The company’s 50-day moving average price is $115.99 and its 200-day moving average price is $107.11. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. 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 cap of $2.85 trillion, a PE ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS 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 the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. On average, equities research analysts forecast that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 80,574,995 shares of the company’s stock, valued at $9,736,682,395.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,692,303 shares of company stock worth $444,047,307. Insiders own 4.23% of the company’s stock.

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.