NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Ithaka Group LLC

Ithaka Group LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 681.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 357,937 shares of the computer hardware maker’s stock after acquiring an additional 312,155 shares during the quarter. NVIDIA accounts for about 8.2% of Ithaka Group LLC’s investment portfolio, making the stock its 2nd largest holding. Ithaka Group LLC’s holdings in NVIDIA were worth $44,220,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. raised its stake in shares of 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. purchased a new stake in shares of NVIDIA during the 1st quarter worth about $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the 1st quarter worth about $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the transaction, the chief executive officer now owns 78,054,995 shares in the company, valued at approximately $9,151,167,613.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the sale, the chief executive officer now owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,996,270 shares of company stock worth $347,729,127. 4.23% of the stock is currently owned by insiders.

NVIDIA Price Performance

Shares of NVDA stock opened at $138.00 on Friday. The stock’s fifty day simple moving average is $121.88 and its 200 day simple moving average is $112.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market cap of $3.39 trillion, a price-to-earnings ratio of 64.73, a P/E/G ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.89.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (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 firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has initiated a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed 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 was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent research reports. William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Bank of America raised their price objective on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Wedbush reissued an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. 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 research note on Tuesday, August 6th. Finally, Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

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.