MGO Private Wealth LLC Buys 9,590 Shares of NVIDIA Co. (NASDAQ:NVDA)

MGO Private Wealth LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,162.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,415 shares of the computer hardware maker’s stock after purchasing an additional 9,590 shares during the quarter. NVIDIA accounts for about 0.8% of MGO Private Wealth LLC’s holdings, making the stock its 28th biggest holding. MGO Private Wealth LLC’s holdings in NVIDIA were worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Deseret Mutual Benefit Administrators raised its position in shares of NVIDIA by 743.7% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 2,067 shares of the computer hardware maker’s stock valued at $255,000 after buying an additional 1,822 shares in the last quarter. Mayflower Financial Advisors LLC increased its stake in NVIDIA by 913.3% in the second quarter. Mayflower Financial Advisors LLC now owns 63,582 shares of the computer hardware maker’s stock valued at $7,855,000 after acquiring an additional 57,307 shares during the last quarter. Lowery Thomas LLC raised its position in NVIDIA by 934.5% during the second quarter. Lowery Thomas LLC now owns 5,752 shares of the computer hardware maker’s stock valued at $711,000 after purchasing an additional 5,196 shares in the last quarter. Kapstone Financial Advisors LLC lifted its stake in NVIDIA by 938.3% during the second quarter. Kapstone Financial Advisors LLC now owns 19,800 shares of the computer hardware maker’s stock worth $2,446,000 after purchasing an additional 17,893 shares during the last quarter. Finally, Range Financial Group LLC boosted its holdings in shares of NVIDIA by 920.0% in the 2nd quarter. Range Financial Group LLC now owns 56,784 shares of the computer hardware maker’s stock worth $7,015,000 after purchasing an additional 51,217 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now owns 3,939,350 shares in the company, valued at approximately $512,509,435. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,077,403 shares of company stock valued at $486,699,184 in the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

NVDA opened at $124.92 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.07 trillion, a price-to-earnings ratio of 73.05, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The stock has a fifty day simple moving average of $116.26 and a two-hundred day simple moving average of $109.35. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping 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 company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the business earned $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a share buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research reports. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Tuesday, August 6th. Piper Sandler reissued an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Citigroup upped their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Argus increased their target price on shares of NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA 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.