NVIDIA Co. (NASDAQ:NVDA) is Prairie Wealth Advisors Inc.’s 2nd Largest Position

Prairie Wealth Advisors Inc. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 838.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 157,721 shares of the computer hardware maker’s stock after acquiring an additional 140,922 shares during the period. NVIDIA accounts for 9.9% of Prairie Wealth Advisors Inc.’s investment portfolio, making the stock its 2nd biggest holding. Prairie Wealth Advisors Inc.’s holdings in NVIDIA were worth $19,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Truepoint Inc. increased its position in NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after buying an additional 208,362 shares in the last quarter. Lombard Odier Asset Management Europe Ltd increased its holdings in NVIDIA by 1,106.0% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after buying an additional 488,148 shares during the last quarter. Consolidated Planning Corp raised its position in NVIDIA by 825.9% during the second quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock valued at $10,394,000 after acquiring an additional 75,046 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in NVIDIA by 898.4% in the second quarter. ProShare Advisors LLC now owns 15,857,702 shares of the computer hardware maker’s stock valued at $1,959,061,000 after acquiring an additional 14,269,378 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Evercore ISI raised their target price on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Benchmark reiterated a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird raised their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Tuesday, August 6th. Five 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’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Performance

NVIDIA stock opened at $140.52 on Tuesday. The stock has a fifty day moving average price of $124.46 and a two-hundred day moving average price of $114.81. 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 52-week low of $39.23 and a 52-week high of $144.42. The firm has a market capitalization of $3.45 trillion, a P/E ratio of 65.91, a P/E/G ratio of 1.50 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, 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. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related 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 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 in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,636,270 shares of company stock valued at $305,367,927. 4.23% of the stock is currently owned by corporate insiders.

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.