Crewe Advisors LLC Purchases 30,902 Shares of NVIDIA Co. (NASDAQ:NVDA)

Crewe Advisors LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 805.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 34,740 shares of the computer hardware maker’s stock after purchasing an additional 30,902 shares during the quarter. Crewe Advisors LLC’s holdings in NVIDIA were worth $4,292,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA during the 1st quarter valued at about $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the first quarter worth approximately $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 0.2 %

Shares of NVDA opened at $116.26 on Tuesday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week 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 company’s fifty day moving average is $115.75 and its 200 day moving average is $107.41. The stock has a market capitalization of $2.86 trillion, a PE ratio of 67.99, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced 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 firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the company earned $0.25 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend 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%.

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.

Analyst Ratings Changes

A number of research analysts recently weighed in on NVDA shares. Craig Hallum increased their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Monday, August 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Jefferies Financial Group boosted their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Five equities research 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, June 28th. The stock was sold at an average price of $125.04, for a total transaction of $15,004,800.00. Following the completion of the sale, the chief executive officer now directly owns 80,094,995 shares in the company, valued at $10,015,078,174.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,472,303 shares of company stock worth $536,731,507. Company 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.