NVIDIA Co. (NASDAQ:NVDA) is BOS Asset Management LLC’s 9th Largest Position

BOS Asset Management LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 902.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,291 shares of the computer hardware maker’s stock after buying an additional 41,671 shares during the period. NVIDIA accounts for 2.6% of BOS Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. BOS Asset Management LLC’s holdings in NVIDIA were worth $5,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BLB&B Advisors LLC increased its position in NVIDIA by 843.8% in the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after acquiring an additional 510,294 shares during the period. Cypress Point Wealth Management LLC lifted its stake in NVIDIA by 772.8% in the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock valued at $739,000 after buying an additional 5,294 shares in the last quarter. McAdam LLC boosted its stake in shares of NVIDIA by 945.0% during the 2nd quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock worth $10,453,000 after purchasing an additional 76,517 shares during the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD boosted its holdings in shares of NVIDIA by 752.9% during the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 56,720 shares of the computer hardware maker’s stock worth $7,006,000 after purchasing an additional 50,070 shares during the last quarter. Finally, Perennial Advisors LLC grew its holdings in NVIDIA by 910.9% in the second quarter. Perennial Advisors LLC now owns 147,838 shares of the computer hardware maker’s stock valued at $18,264,000 after purchasing an additional 133,213 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on NVDA shares. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. Westpark Capital lifted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. KeyCorp increased their target price on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Craig Hallum raised their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insider Transactions at NVIDIA

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 value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 owns 4,954,214 shares in the company, valued at $577,611,810.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,352,303 shares of company stock valued at $521,745,907. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $123.51 on Thursday. 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 Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a fifty day moving average of $115.64 and a 200-day moving average of $107.64. The firm has a market capitalization of $3.03 trillion, a P/E ratio of 72.23, a P/E/G ratio of 1.05 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company 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 firm’s revenue was up 122.4% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA declared that its Board of Directors has authorized a stock 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Company 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.