Brighton Jones LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Brighton Jones LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 878.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 336,749 shares of the computer hardware maker’s stock after acquiring an additional 302,348 shares during the quarter. NVIDIA accounts for about 1.4% of Brighton Jones LLC’s investment portfolio, making the stock its 7th largest holding. Brighton Jones LLC’s holdings in NVIDIA were worth $41,602,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Intech Investment Management LLC grew its position in NVIDIA by 936.1% in the second quarter. Intech Investment Management LLC now owns 4,585,627 shares of the computer hardware maker’s stock valued at $566,508,000 after purchasing an additional 4,143,021 shares in the last quarter. ProVise Management Group LLC lifted its position in NVIDIA by 1,146.4% during the second quarter. ProVise Management Group LLC now owns 23,095 shares of the computer hardware maker’s stock worth $2,853,000 after acquiring an additional 21,242 shares during the last quarter. Austin Asset Management Co Inc boosted its holdings in shares of NVIDIA by 557.9% during the second quarter. Austin Asset Management Co Inc now owns 509,045 shares of the computer hardware maker’s stock worth $62,887,000 after acquiring an additional 431,668 shares during the period. Lauterbach Financial Advisors LLC increased its position in NVIDIA by 933.8% during the 2nd quarter. Lauterbach Financial Advisors LLC now owns 20,810 shares of the computer hardware maker’s stock worth $2,571,000 after buying an additional 18,797 shares during the period. Finally, UP Strategic Wealth Investment Advisors LLC boosted its holdings in NVIDIA by 883.7% in the 2nd quarter. UP Strategic Wealth Investment Advisors LLC now owns 27,771 shares of the computer hardware maker’s stock valued at $3,431,000 after purchasing an additional 24,948 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

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

NVIDIA Price Performance

NVDA opened at $139.56 on Thursday. The firm’s fifty day moving average price is $123.56 and its two-hundred day moving average price is $113.50. The company has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 65.46, 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 1 year low of $39.23 and a 1 year high of $144.42.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping 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 net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. As a group, analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. 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 (DPR) is currently 1.88%.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Benchmark reissued a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. KeyCorp increased their target price on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Truist Financial boosted their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus 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.