IMZ Advisory Inc Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

IMZ Advisory Inc grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,542 shares of the computer hardware maker’s stock after acquiring an additional 294 shares during the quarter. NVIDIA comprises approximately 1.1% of IMZ Advisory Inc’s investment portfolio, making the stock its 14th biggest position. IMZ Advisory Inc’s holdings in NVIDIA were worth $2,316,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter valued at approximately $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA in the first quarter worth approximately $30,000. TCTC Holdings LLC acquired a new stake in NVIDIA during the first quarter worth $82,000. Finally, Slocum Gordon & Co LLP purchased a new stake in NVIDIA in the first quarter valued at $98,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were 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 approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Evercore ISI increased their price target on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Mizuho lifted their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. Finally, Needham & Company LLC upped their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Up 2.2 %

Shares of NASDAQ:NVDA opened at $148.88 on Friday. 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 company’s 50-day moving average price is $126.08 and its two-hundred day moving average price is $117.25. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $148.93. The firm has a market cap of $3.65 trillion, a P/E ratio of 69.90, a P/E/G ratio of 1.43 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The business 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%. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. As a group, research analysts forecast that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

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.