LJI Wealth Management LLC Buys New Shares in NVIDIA Co. (NASDAQ:NVDA)

LJI Wealth Management LLC bought a new stake in NVIDIA Co. (NASDAQ:NVDA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,867 shares of the computer hardware maker’s stock, valued at approximately $3,813,000. NVIDIA comprises about 0.8% of LJI Wealth Management LLC’s portfolio, making the stock its 19th biggest position.

A number of other institutional investors have also added to or reduced their stakes in NVDA. Hamilton Wealth LLC grew its stake in shares of NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares during the last quarter. Brooklyn FI LLC grew its stake in shares of NVIDIA by 2.5% in the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after purchasing an additional 12 shares during the last quarter. Curran Financial Partners LLC grew its stake in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after purchasing an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC grew its stake in shares of NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares during the last quarter. Finally, WFA Asset Management Corp grew its stake in shares of NVIDIA by 10.1% in the first quarter. WFA Asset Management Corp now owns 153 shares of the computer hardware maker’s stock worth $138,000 after purchasing an additional 14 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 0.1 %

NASDAQ:NVDA opened at $143.59 on Wednesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $144.42. The company has a market cap of $3.53 trillion, a PE ratio of 83.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The company has a 50 day simple moving average of $123.13 and a two-hundred day simple moving average of $113.31.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 net margin of 55.04% and a return on equity of 113.50%. The business 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 firm posted $0.25 EPS. The firm’s revenue was up 122.4% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication 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 given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were 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 owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,756,270 shares of company stock valued at $318,992,727 in the last 90 days. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Tuesday, October 8th. KeyCorp raised their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Piper Sandler restated an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Finally, Mizuho raised their price objective on shares of 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. According to MarketBeat.com, the stock presently 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.