Peregrine Asset Advisers Inc. Acquires 154,113 Shares of NVIDIA Co. (NASDAQ:NVDA)

Peregrine Asset Advisers Inc. raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 851.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,211 shares of the computer hardware maker’s stock after buying an additional 154,113 shares during the period. NVIDIA comprises 8.5% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its largest position. Peregrine Asset Advisers Inc.’s holdings in NVIDIA were worth $21,275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its stake in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the first quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the first quarter valued at approximately $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s 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 transaction, the chief executive officer now owns 78,054,995 shares of the company’s stock, valued at approximately $9,151,167,613.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This 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. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 78,054,995 shares of the company’s stock, valued at approximately $9,151,167,613.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,876,270 shares of company stock worth $333,061,527. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. HSBC lifted their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group lifted their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Citigroup lifted their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. DA Davidson restated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Craig Hallum lifted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Price Performance

NASDAQ NVDA opened at $138.00 on Monday. The firm has a market capitalization of $3.39 trillion, a PE ratio of 64.73, a P/E/G ratio of 1.25 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.89. The company’s 50 day simple moving average is $121.88 and its 200 day simple moving average is $112.51.

NVIDIA (NASDAQ:NVDA) last posted 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. 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 in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, equities research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

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.