NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 774.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,495,432 shares of the computer hardware maker’s stock after acquiring an additional 1,324,452 shares during the period. NVIDIA accounts for about 5.5% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 3rd biggest position. Prio Wealth Limited Partnership’s holdings in NVIDIA were worth $184,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Diversified Investment Strategies LLC acquired a new position in NVIDIA during the 1st quarter valued at about $357,000. Privium Fund Management UK Ltd bought a new stake in shares of NVIDIA during the first quarter worth approximately $2,635,000. Richardson Capital Management LLC acquired a new position in NVIDIA in the first quarter valued at approximately $415,000. Red Door Wealth Management LLC boosted its stake in NVIDIA by 3.7% in the first quarter. Red Door Wealth Management LLC now owns 22,734 shares of the computer hardware maker’s stock valued at $20,541,000 after acquiring an additional 808 shares during the last quarter. Finally, Trilogy Capital Inc. grew its holdings in NVIDIA by 87.2% during the 1st quarter. Trilogy Capital Inc. now owns 1,084 shares of the computer hardware maker’s stock worth $979,000 after acquiring an additional 505 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,516,270 shares of company stock worth $291,803,127 over the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 2.0 %

NVDA stock opened at $135.40 on Friday. NVIDIA Co. has a 1-year low of $42.89 and a 1-year high of $144.42. The business’s 50 day simple moving average is $125.25 and its 200 day simple moving average is $116.01. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.32 trillion, a PE ratio of 63.57, a PEG ratio of 1.40 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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. 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 company’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. As a group, research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding 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 usually a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. HSBC raised their price target on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a report on Tuesday, October 8th. UBS Group reissued a “buy” rating and set a $150.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Finally, William Blair assumed coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.07.

About NVIDIA

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.