SVB Wealth LLC Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

SVB Wealth LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 926.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 320,196 shares of the computer hardware maker’s stock after acquiring an additional 288,996 shares during the period. NVIDIA comprises 1.0% of SVB Wealth LLC’s portfolio, making the stock its 15th largest holding. SVB Wealth LLC’s holdings in NVIDIA were worth $39,557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NVDA. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the second quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. increased its position 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 worth $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the 1st quarter worth $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 4.0 %

NASDAQ NVDA opened at $132.89 on Wednesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The firm’s fifty day simple moving average is $116.58 and its 200-day simple moving average is $109.74. The company has a market capitalization of $3.27 trillion, a PE ratio of 77.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the firm posted $0.25 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes 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 believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insiders Place Their Bets

In other news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. This trade represents a 0.00 % decrease in their position. 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 NVIDIA stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,577,403 shares of company stock valued at $420,166,534 over the last three months. 4.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent analyst reports. Tigress Financial raised their price objective on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Wedbush restated an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Sanford C. Bernstein increased their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.