NVIDIA Co. (NASDAQ:NVDA) Stock Position Raised by GM Advisory Group LLC

GM Advisory Group LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 865.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 255,231 shares of the computer hardware maker’s stock after buying an additional 228,801 shares during the quarter. NVIDIA comprises 2.0% of GM Advisory Group LLC’s investment portfolio, making the stock its 13th largest holding. GM Advisory Group LLC’s holdings in NVIDIA were worth $31,531,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NVDA. Single Point Partners LLC raised its holdings in shares of NVIDIA by 4.0% during the 1st quarter. Single Point Partners LLC now owns 595 shares of the computer hardware maker’s stock valued at $537,000 after purchasing an additional 23 shares in the last quarter. Abacus Planning Group Inc. boosted its holdings in NVIDIA by 49.9% in the first quarter. Abacus Planning Group Inc. now owns 2,181 shares of the computer hardware maker’s stock worth $1,971,000 after purchasing an additional 726 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its position in NVIDIA by 0.6% during the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 7,788 shares of the computer hardware maker’s stock worth $7,037,000 after buying an additional 47 shares during the last quarter. True North Advisors LLC lifted its position in shares of NVIDIA by 33.1% in the first quarter. True North Advisors LLC now owns 1,847 shares of the computer hardware maker’s stock worth $1,669,000 after buying an additional 459 shares during the last quarter. Finally, Cherrydale Wealth Management LLC boosted its stake in shares of NVIDIA by 16.7% during the 1st quarter. Cherrydale Wealth Management LLC now owns 1,924 shares of the computer hardware maker’s stock worth $1,738,000 after acquiring an additional 276 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. HSBC raised their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Benchmark reaffirmed a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Mizuho increased their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Robert W. Baird upped their price target on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five 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 stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Transactions at NVIDIA

In related news, 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 value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade 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 accessible through this hyperlink. In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,756,270 shares of company stock valued at $318,992,727 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Down 2.8 %

Shares of NVDA stock opened at $139.56 on Thursday. 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. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42. The firm has a fifty day moving average of $123.56 and a 200-day moving average of $113.50. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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 firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. As a group, equities research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid 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 currently 1.88%.

NVIDIA declared that its Board of Directors has approved 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 generally an indication that the company’s board of directors believes its stock is undervalued.

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.