NVIDIA Co. (NASDAQ:NVDA) is Perissos Private Wealth Management LLC’s 6th Largest Position

Perissos Private Wealth Management LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 791.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,790 shares of the computer hardware maker’s stock after acquiring an additional 23,785 shares during the quarter. NVIDIA comprises approximately 3.0% of Perissos Private Wealth Management LLC’s portfolio, making the stock its 6th biggest position. Perissos Private Wealth Management LLC’s holdings in NVIDIA were worth $3,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. Bank of New York Mellon Corp lifted its stake in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Dimensional Fund Advisors LP lifted its stake in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares during the period. Finally, Baillie Gifford & Co. lifted its stake in NVIDIA by 696.6% in the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after acquiring an additional 71,757,065 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated 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 transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,996,270 shares of company stock valued at $347,729,127. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.8 %

Shares of NASDAQ:NVDA opened at $138.00 on Friday. The stock has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 64.73, a PEG ratio of 1.25 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’s 50-day simple moving average is $121.88 and its two-hundred day simple moving average is $112.35. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.89.

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, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its board has authorized a share buyback plan 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. 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 payout ratio is 1.88%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NVDA shares. HSBC raised their price target on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Wedbush reissued an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Craig Hallum raised their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley reissued an “overweight” rating and set a $150.00 price objective on shares of NVIDIA in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

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.