NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Doheny Asset Management CA

Doheny Asset Management CA boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 922.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 98,370 shares of the computer hardware maker’s stock after acquiring an additional 88,747 shares during the quarter. NVIDIA comprises 6.8% of Doheny Asset Management CA’s holdings, making the stock its 2nd biggest position. Doheny Asset Management CA’s holdings in NVIDIA were worth $12,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Diversified Investment Strategies LLC purchased a new position in shares of NVIDIA during the first quarter worth about $357,000. Privium Fund Management UK Ltd purchased a new position in shares of NVIDIA in the 1st quarter valued at approximately $2,635,000. Register Financial Advisors LLC increased its holdings in shares of NVIDIA by 24.0% in the first quarter. Register Financial Advisors LLC now owns 1,364 shares of the computer hardware maker’s stock valued at $1,233,000 after purchasing an additional 264 shares during the period. LongView Wealth Management raised its stake in shares of NVIDIA by 0.9% during the first quarter. LongView Wealth Management now owns 1,787 shares of the computer hardware maker’s stock worth $1,615,000 after purchasing an additional 16 shares during the last quarter. Finally, Atlantic Union Bankshares Corp lifted its holdings in shares of NVIDIA by 18.2% during the first quarter. Atlantic Union Bankshares Corp now owns 17,716 shares of the computer hardware maker’s stock worth $16,007,000 after purchasing an additional 2,722 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,516,270 shares of company stock worth $291,803,127. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Trading Down 1.4 %

NASDAQ NVDA opened at $139.34 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 $144.42. The company’s 50 day moving average price is $124.95 and its 200 day moving average price is $115.35. The firm has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 65.42, a PEG ratio of 1.50 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was up 122.4% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its Board of Directors has approved a share repurchase plan 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 plans are usually a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on NVDA. William Blair started coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. HSBC lifted their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Tuesday, August 6th. Evercore ISI lifted their price target on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Westpark Capital increased their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price 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.