Geneos Wealth Management Inc. Raises Position in NVIDIA Corporation $NVDA

Geneos Wealth Management Inc. lifted its stake in NVIDIA Corporation (NASDAQ:NVDA) by 9.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,898 shares of the computer hardware maker’s stock after acquiring an additional 23,097 shares during the period. NVIDIA makes up about 1.0% of Geneos Wealth Management Inc.’s holdings, making the stock its 10th largest holding. Geneos Wealth Management Inc.’s holdings in NVIDIA were worth $41,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hershey Financial Advisers LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $266,000. Caxton Associates LLP grew its holdings in NVIDIA by 30.0% during the 2nd quarter. Caxton Associates LLP now owns 880,160 shares of the computer hardware maker’s stock valued at $139,056,000 after buying an additional 203,090 shares in the last quarter. Castleark Management LLC increased its position in shares of NVIDIA by 26.2% during the second quarter. Castleark Management LLC now owns 1,418,598 shares of the computer hardware maker’s stock valued at $224,124,000 after buying an additional 294,838 shares during the period. Second Line Capital LLC lifted its holdings in shares of NVIDIA by 8.4% in the second quarter. Second Line Capital LLC now owns 43,350 shares of the computer hardware maker’s stock worth $6,849,000 after buying an additional 3,361 shares in the last quarter. Finally, Rexford Capital Inc. purchased a new stake in shares of NVIDIA in the second quarter worth about $2,931,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $175.02 on Friday. The company has a market capitalization of $4.25 trillion, a price-to-earnings ratio of 43.43, a PEG ratio of 0.86 and a beta of 2.29. The business has a 50 day moving average of $186.69 and a 200 day moving average of $173.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $212.19.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping the consensus estimate of $1.23 by $0.07. The firm had revenue of $57.01 billion for the quarter, compared to the consensus estimate of $54.66 billion. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The business’s revenue was up 62.5% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. On average, sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s payout ratio is currently 0.99%.

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 626 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $179.42, for a total transaction of $112,316.92. Following the completion of the sale, the director directly owned 17,792 shares in the company, valued at $3,192,240.64. This represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 350,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $181.73, for a total value of $63,605,500.00. Following the transaction, the director owned 7,049,803 shares in the company, valued at approximately $1,281,160,699.19. The trade was a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 2,829,474 shares of company stock valued at $512,805,367. 4.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NVDA. Bank of America boosted their price objective on shares of NVIDIA from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Arete Research upped their price target on shares of NVIDIA from $244.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. CICC Research increased their price objective on NVIDIA from $200.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. New Street Research restated a “buy” rating and set a $307.00 target price on shares of NVIDIA in a research report on Thursday, October 30th. Finally, Rothschild & Co Redburn upped their target price on NVIDIA from $211.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Buy” and a consensus price target of $258.65.

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.