AR Asset Management Inc. Acquires 73,395 Shares of NVIDIA Co. (NASDAQ:NVDA)

AR Asset Management Inc. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 911.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,450 shares of the computer hardware maker’s stock after acquiring an additional 73,395 shares during the quarter. NVIDIA comprises approximately 2.4% of AR Asset Management Inc.’s holdings, making the stock its 12th largest holding. AR Asset Management Inc.’s holdings in NVIDIA were worth $10,062,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NVDA. Hamilton Wealth LLC grew its stake in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the last quarter. Brooklyn FI LLC raised its position in shares of NVIDIA by 2.5% during the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after acquiring an additional 12 shares during the last quarter. Curran Financial Partners LLC boosted its holdings in NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after acquiring an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC lifted its position in NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after purchasing an additional 12 shares during the period. Finally, WFA Asset Management Corp grew its position in shares of NVIDIA by 10.1% during the 1st quarter. WFA Asset Management Corp now owns 153 shares of the computer hardware maker’s stock worth $138,000 after buying an additional 14 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of analyst reports. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Westpark Capital increased their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Morgan Stanley restated an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a research note on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, Raymond James boosted their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 77,814,995 shares in the company, valued at approximately $8,835,114,532.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the sale, the chief executive officer now owns 77,814,995 shares of the company’s stock, valued at $8,835,114,532.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,756,270 shares of company stock worth $318,992,727 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $139.56 on Thursday. The stock’s 50-day simple moving average is $123.56 and its 200 day simple moving average is $113.50. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.42 trillion, a PE ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The company 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%. The firm’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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 $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.