GDS Wealth Management Acquires 9,700 Shares of NVIDIA Co. (NASDAQ:NVDA)

GDS Wealth Management increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,108.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,575 shares of the computer hardware maker’s stock after purchasing an additional 9,700 shares during the period. GDS Wealth Management’s holdings in NVIDIA were worth $1,306,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NVDA. Aprio Wealth Management LLC lifted its holdings in shares of NVIDIA by 102.1% during the 1st quarter. Aprio Wealth Management LLC now owns 2,134 shares of the computer hardware maker’s stock valued at $1,928,000 after purchasing an additional 1,078 shares in the last quarter. Fragasso Group Inc. raised its position in NVIDIA by 4.9% in the 1st quarter. Fragasso Group Inc. now owns 9,957 shares of the computer hardware maker’s stock valued at $8,997,000 after buying an additional 467 shares during the last quarter. LexAurum Advisors LLC raised its position in NVIDIA by 1.9% in the 1st quarter. LexAurum Advisors LLC now owns 4,733 shares of the computer hardware maker’s stock valued at $4,276,000 after buying an additional 90 shares during the last quarter. Buckingham Capital Management Inc. raised its position in NVIDIA by 51.4% in the 1st quarter. Buckingham Capital Management Inc. now owns 6,416 shares of the computer hardware maker’s stock valued at $5,797,000 after buying an additional 2,178 shares during the last quarter. Finally, Sterling Financial Group Inc. raised its position in NVIDIA by 0.9% in the 1st quarter. Sterling Financial Group Inc. now owns 1,452 shares of the computer hardware maker’s stock valued at $1,312,000 after buying an additional 13 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. William Blair assumed coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. HSBC lifted their target price on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Five research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $138.00 on Monday. The company 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 fifty-two week low of $39.23 and a fifty-two week high of $140.89. 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 has a fifty day moving average price of $121.88 and a 200-day moving average price of $112.51.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given 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 dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has initiated a stock repurchase 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the completion of the sale, the chief executive officer now directly owns 77,814,995 shares in the company, valued at $8,835,114,532.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $113.54, for a total value of $13,624,800.00. Following the transaction, the chief executive officer now directly owns 77,814,995 shares of the company’s stock, valued at approximately $8,835,114,532.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,876,270 shares of company stock valued at $333,061,527 over the last three months. 4.23% of the stock is owned by insiders.

About NVIDIA

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.