NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Graypoint LLC

Graypoint LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 907.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,633 shares of the computer hardware maker’s stock after acquiring an additional 405,919 shares during the quarter. NVIDIA accounts for 3.8% of Graypoint LLC’s portfolio, making the stock its 4th largest position. Graypoint LLC’s holdings in NVIDIA were worth $55,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in shares of NVIDIA by 741.8% in the second quarter. Van ECK Associates Corp now owns 40,008,518 shares of the computer hardware maker’s stock valued at $4,942,652,000 after buying an additional 35,255,679 shares in the last quarter. Equita Financial Network Inc. increased its stake in shares of NVIDIA by 1,239.2% in the second quarter. Equita Financial Network Inc. now owns 5,370 shares of the computer hardware maker’s stock valued at $663,000 after buying an additional 4,969 shares in the last quarter. Spire Wealth Management increased its stake in shares of NVIDIA by 774.2% in the second quarter. Spire Wealth Management now owns 726,789 shares of the computer hardware maker’s stock valued at $89,759,000 after buying an additional 643,654 shares in the last quarter. Weatherly Asset Management L. P. increased its stake in shares of NVIDIA by 857.3% in the second quarter. Weatherly Asset Management L. P. now owns 163,265 shares of the computer hardware maker’s stock valued at $20,170,000 after buying an additional 146,210 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. increased its stake in shares of NVIDIA by 827.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 24,035 shares of the computer hardware maker’s stock valued at $2,969,000 after buying an additional 21,443 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on NVDA shares. Tigress Financial lifted their price objective on NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Mizuho lifted their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Evercore ISI lifted their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Stock Down 2.1 %

Shares of NVDA stock opened at $121.40 on Friday. The firm’s fifty day moving average price is $115.88 and its two-hundred day moving average price is $108.23. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The firm has a market capitalization of $2.99 trillion, a P/E ratio of 70.99, a PEG ratio of 1.05 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter last year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 122.4% on a year-over-year basis. On average, equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be 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 is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

NVIDIA announced that its Board of Directors has approved a stock repurchase 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total value of $14,913,600.00. Following the completion of the transaction, the chief executive officer now owns 79,734,995 shares of the company’s stock, valued at approximately $9,909,465,178.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total transaction of $14,913,600.00. Following the completion of the sale, the chief executive officer now owns 79,734,995 shares of the company’s stock, valued at approximately $9,909,465,178.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. The disclosure for this sale can be found here. Insiders sold a total of 4,397,403 shares of company stock valued at $526,762,784 in the last quarter. Company insiders own 4.23% of the company’s stock.

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.