NVIDIA Co. (NASDAQ:NVDA) Stock Position Boosted by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 164.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,495 shares of the computer hardware maker’s stock after buying an additional 14,608 shares during the period. NVIDIA accounts for 1.7% of ICA Group Wealth Management LLC’s portfolio, making the stock its 15th biggest holding. ICA Group Wealth Management LLC’s holdings in NVIDIA were worth $2,903,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Truepoint Inc. grew its position in NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after buying an additional 11,709 shares in the last quarter. Consolidated Planning Corp boosted its position in shares of NVIDIA by 825.9% during the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock valued at $10,394,000 after purchasing an additional 75,046 shares in the last quarter. International Private Wealth Advisors LLC boosted its position in shares of NVIDIA by 1,452.1% during the 2nd quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after purchasing an additional 7,028 shares in the last quarter. Lafayette Investments Inc. boosted its position in shares of NVIDIA by 901.8% during the 2nd quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after purchasing an additional 5,140 shares in the last quarter. Finally, AMJ Financial Wealth Management boosted its position in shares of NVIDIA by 898.7% during the 2nd quarter. AMJ Financial Wealth Management now owns 59,300 shares of the computer hardware maker’s stock valued at $7,326,000 after purchasing an additional 53,362 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NVDA. Evercore ISI raised their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Bank of America raised their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. DA Davidson restated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, UBS Group restated a “buy” rating and set a $150.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. 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 data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Trading Up 0.8 %

Shares of NVDA stock opened at $138.00 on Friday. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.89. 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 business’s 50 day moving average is $121.88 and its two-hundred day moving average is $112.19. The company has a market cap of $3.39 trillion, a PE ratio of 80.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced 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. 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 the consensus estimate of $28.74 billion. During the same quarter last year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders 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 yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

NVIDIA announced that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the transaction, the chief executive officer now owns 78,294,995 shares in the company, valued at $9,569,997,238.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the completion of the sale, the chief executive officer now owns 78,294,995 shares in the company, valued at approximately $9,569,997,238.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,996,270 shares of company stock worth $347,729,127 over the last 90 days. 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.