Elgethun Capital Management Has $461,000 Stake in NVIDIA Co. (NASDAQ:NVDA)

Elgethun Capital Management grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 899.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,729 shares of the computer hardware maker’s stock after purchasing an additional 3,356 shares during the period. Elgethun Capital Management’s holdings in NVIDIA were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA in the 1st quarter valued at approximately $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter valued at approximately $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was 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 directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,636,270 shares of company stock worth $305,367,927 over the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $140.52 on Tuesday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $144.42. The company’s 50-day moving average is $124.46 and its 200 day moving average is $114.81. The company has a market capitalization of $3.45 trillion, a P/E ratio of 65.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $28.74 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s revenue was up 122.4% on a year-over-year basis. On average, equities research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Truist Financial raised their price target on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Needham & Company LLC raised their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Bank of America raised their price target on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, KeyCorp raised their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Five 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.