Cypress Financial Planning LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cypress Financial Planning LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,570 shares of the computer hardware maker’s stock after buying an additional 144 shares during the period. Cypress Financial Planning LLC’s holdings in NVIDIA were worth $312,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares during the period. Legal & General Group Plc raised its holdings in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Ameriprise Financial Inc. boosted its holdings in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NVDA shares. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, August 6th. Raymond James upped their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Benchmark reiterated a “buy” rating and set a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Stock Up 2.2 %

NASDAQ:NVDA opened at $148.88 on Friday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $148.93. The company’s 50 day moving average is $126.08 and its two-hundred day moving average is $117.25. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.65 trillion, a PE ratio of 69.90, a P/E/G ratio of 1.43 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm earned $0.25 EPS. The firm’s revenue was up 122.4% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

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.