Fiera Capital Corp Buys 51,031 Shares of NVIDIA Co. (NASDAQ:NVDA)

Fiera Capital Corp boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 768.0% during the second quarter, Holdings Channel.com reports. The firm owned 57,676 shares of the computer hardware maker’s stock after purchasing an additional 51,031 shares during the quarter. Fiera Capital Corp’s holdings in NVIDIA were worth $7,125,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NVDA. Old North State Trust LLC raised its stake in NVIDIA by 894.6% in the second quarter. Old North State Trust LLC now owns 44,987 shares of the computer hardware maker’s stock valued at $5,558,000 after buying an additional 40,464 shares during the last quarter. HWG Holdings LP purchased a new stake in NVIDIA in the second quarter valued at about $12,152,000. Garde Capital Inc. raised its stake in NVIDIA by 1,079.3% in the second quarter. Garde Capital Inc. now owns 57,772 shares of the computer hardware maker’s stock valued at $7,137,000 after buying an additional 52,873 shares during the last quarter. Chase Investment Counsel Corp raised its stake in NVIDIA by 918.4% in the second quarter. Chase Investment Counsel Corp now owns 142,910 shares of the computer hardware maker’s stock valued at $17,655,000 after buying an additional 128,877 shares during the last quarter. Finally, Hershey Financial Advisers LLC purchased a new stake in NVIDIA in the second quarter valued at about $2,054,000. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVDA. Wells Fargo & Company increased their price target on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC increased their price target on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Raymond James raised their price objective on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.07.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,516,270 shares of company stock worth $291,803,127. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA 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 company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market capitalization of $3.32 trillion, a PE ratio of 63.51, a P/E/G ratio of 1.47 and a beta of 1.67. The business’s 50 day moving average price is $125.25 and its 200-day moving average price is $115.81.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, equities research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

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. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

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

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.