Market Street Wealth Management Advisors LLC Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

Market Street Wealth Management Advisors LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,266.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,964 shares of the computer hardware maker’s stock after acquiring an additional 8,308 shares during the quarter. Market Street Wealth Management Advisors LLC’s holdings in NVIDIA were worth $1,107,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NVDA. BLB&B Advisors LLC increased its stake in shares of NVIDIA by 843.8% during the second quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock worth $70,513,000 after purchasing an additional 510,294 shares in the last quarter. Cypress Point Wealth Management LLC increased its stake in NVIDIA by 772.8% during the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock worth $739,000 after buying an additional 5,294 shares in the last quarter. McAdam LLC raised its holdings in shares of NVIDIA by 945.0% during the second quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock valued at $10,453,000 after acquiring an additional 76,517 shares during the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD boosted its stake in shares of NVIDIA by 752.9% in the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 56,720 shares of the computer hardware maker’s stock worth $7,006,000 after acquiring an additional 50,070 shares during the last quarter. Finally, Perennial Advisors LLC increased its position in shares of NVIDIA by 910.9% during the second quarter. Perennial Advisors LLC now owns 147,838 shares of the computer hardware maker’s stock worth $18,264,000 after purchasing an additional 133,213 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $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. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $116.26 on Tuesday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock has a market capitalization of $2.86 trillion, a PE ratio of 67.99, a PEG ratio of 1.06 and a beta of 1.67. 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 50-day simple moving average of $115.75 and a 200-day simple moving average of $107.41.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results 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. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. On average, analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Tigress Financial raised their price objective on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. StockNews.com lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Citigroup increased their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Craig Hallum boosted their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, August 6th. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.