NVIDIA Co. (NASDAQ:NVDA) Shares Bought by US Asset Management LLC

US Asset Management LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 866.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,587 shares of the computer hardware maker’s stock after purchasing an additional 63,283 shares during the period. NVIDIA makes up about 7.9% of US Asset Management LLC’s holdings, making the stock its biggest position. US Asset Management LLC’s holdings in NVIDIA were worth $8,720,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Confluence Investment Management LLC bought a new position in shares of NVIDIA in the first quarter valued at approximately $279,000. Arden Trust Co raised its stake in NVIDIA by 1.0% in the first quarter. Arden Trust Co now owns 10,450 shares of the computer hardware maker’s stock valued at $9,442,000 after purchasing an additional 99 shares in the last quarter. Versant Capital Management Inc raised its stake in NVIDIA by 25.0% in the first quarter. Versant Capital Management Inc now owns 751 shares of the computer hardware maker’s stock valued at $679,000 after purchasing an additional 150 shares in the last quarter. Strategic Advocates LLC raised its stake in shares of NVIDIA by 16.6% during the first quarter. Strategic Advocates LLC now owns 9,768 shares of the computer hardware maker’s stock worth $8,826,000 after acquiring an additional 1,390 shares in the last quarter. Finally, Duncan Williams Asset Management LLC bought a new position in shares of NVIDIA in the first quarter worth approximately $493,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related 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 directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s 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 completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $122.23, for a total value of $14,667,600.00. Following the transaction, the chief executive officer now directly owns 78,294,995 shares of the company’s stock, valued at $9,569,997,238.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,116,270 shares of company stock valued at $362,016,327 over the last three months. 4.23% of the stock is owned by insiders.

Analysts Set New Price Targets

NVDA has been the topic of several recent analyst reports. HSBC lifted their price target on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Mizuho lifted their price target on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Wedbush reissued an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Jefferies Financial Group boosted their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, William Blair began coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.46.

NVIDIA Trading Up 3.1 %

NASDAQ:NVDA opened at $135.72 on Thursday. 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 Co. has a one year low of $39.23 and a one year high of $140.76. The business’s 50-day simple moving average is $120.58 and its 200 day simple moving average is $111.69. The stock has a market cap of $3.34 trillion, a price-to-earnings ratio of 79.37, a price-to-earnings-growth ratio of 1.20 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 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, sell-side analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA 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.