Sierra Summit Advisors LLC Has $23.29 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Sierra Summit Advisors LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 762.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,541 shares of the computer hardware maker’s stock after acquiring an additional 166,683 shares during the quarter. NVIDIA accounts for 5.8% of Sierra Summit Advisors LLC’s portfolio, making the stock its largest holding. Sierra Summit Advisors LLC’s holdings in NVIDIA were worth $23,292,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the first quarter valued at approximately $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA in the first quarter valued at approximately $30,000. Norwood Financial Corp bought a new stake in shares of NVIDIA in the first quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners boosted its position in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the period. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s 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 owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 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. Over the last quarter, insiders have sold 2,996,270 shares of company stock worth $347,729,127. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA stock opened at $138.00 on Friday. The stock has a 50-day moving average price of $121.88 and a 200 day moving average price of $112.35. 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 firm has a market cap of $3.39 trillion, a price-to-earnings ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue was up 122.4% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. Research analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its board has authorized a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced 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. 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 (DPR) is currently 1.88%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NVDA shares. KeyCorp increased their price objective on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Wedbush reaffirmed an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a research report on Thursday, October 10th. DA Davidson reaffirmed a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Wells Fargo & Company raised their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.