NVIDIA Co. (NASDAQ:NVDA) Stake Raised by Purus Wealth Management LLC

Purus Wealth Management LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 896.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,934 shares of the computer hardware maker’s stock after acquiring an additional 250,951 shares during the quarter. NVIDIA accounts for 15.2% of Purus Wealth Management LLC’s portfolio, making the stock its largest position. Purus Wealth Management LLC’s holdings in NVIDIA were worth $34,459,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Meyer Handelman Co. grew its stake in shares of NVIDIA by 1.9% during the first quarter. Meyer Handelman Co. now owns 13,542 shares of the computer hardware maker’s stock valued at $12,236,000 after buying an additional 257 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of NVIDIA by 1.1% during the 1st quarter. Gulf International Bank UK Ltd now owns 219,456 shares of the computer hardware maker’s stock worth $198,291,000 after acquiring an additional 2,465 shares during the last quarter. Bennett Selby Investments LP purchased a new position in NVIDIA during the 1st quarter valued at $827,000. Executive Wealth Group LLC bought a new position in NVIDIA in the 1st quarter valued at $212,000. Finally, Hummer Financial Advisory Services Inc purchased a new stake in NVIDIA in the first quarter worth $361,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the 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 sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This 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 available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,876,270 shares of company stock valued at $333,061,527 over the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 4.1 %

NVIDIA stock opened at $143.71 on Tuesday. The business’s 50-day simple moving average is $122.58 and its two-hundred day simple moving average is $112.92. 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 company has a market cap of $3.53 trillion, a PE ratio of 67.41, 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 $143.71.

NVIDIA (NASDAQ:NVDA) last issued its 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVDA shares. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. HSBC boosted their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Citigroup raised their target price on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Mizuho raised their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.07.

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.