St. Johns Investment Management Company LLC Has $3.97 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

St. Johns Investment Management Company LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 848.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 32,143 shares of the computer hardware maker’s stock after purchasing an additional 28,753 shares during the quarter. NVIDIA comprises 1.9% of St. Johns Investment Management Company LLC’s holdings, making the stock its 13th biggest position. St. Johns Investment Management Company LLC’s holdings in NVIDIA were worth $3,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NVDA. Pegasus Asset Management Inc. grew its position in NVIDIA by 892.1% during the second quarter. Pegasus Asset Management Inc. now owns 78,095 shares of the computer hardware maker’s stock worth $9,648,000 after buying an additional 70,223 shares in the last quarter. SlateStone Wealth LLC lifted its position in NVIDIA by 655.8% in the second quarter. SlateStone Wealth LLC now owns 244,237 shares of the computer hardware maker’s stock worth $30,173,000 after purchasing an additional 211,920 shares during the period. Rational Advisors LLC boosted its stake in NVIDIA by 418.8% during the second quarter. Rational Advisors LLC now owns 12,985 shares of the computer hardware maker’s stock worth $1,604,000 after buying an additional 10,482 shares in the last quarter. Bailard Inc. increased its holdings in NVIDIA by 827.9% in the 2nd quarter. Bailard Inc. now owns 705,410 shares of the computer hardware maker’s stock valued at $87,146,000 after buying an additional 629,384 shares during the period. Finally, Verdence Capital Advisors LLC lifted its stake in NVIDIA by 920.8% during the second quarter. Verdence Capital Advisors LLC now owns 70,006 shares of the computer hardware maker’s stock worth $8,648,000 after purchasing an additional 63,148 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

NASDAQ NVDA opened at $115.59 on Wednesday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a fifty day moving average of $116.88 and a 200-day moving average of $106.63. The company has a market capitalization of $2.84 trillion, a P/E ratio of 67.60, a P/E/G ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. As a group, equities research analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,845,633 shares of company stock valued at $465,330,122. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on NVDA shares. Susquehanna boosted their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Citigroup upped their target price on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. StockNews.com cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Mizuho upped their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Robert W. Baird upped their price objective on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

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.