NVIDIA Co. (NASDAQ:NVDA) Position Lifted by Center For Asset Management LLC

Center For Asset Management LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,013.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,152 shares of the computer hardware maker’s stock after acquiring an additional 23,804 shares during the period. NVIDIA comprises approximately 1.9% of Center For Asset Management LLC’s holdings, making the stock its 13th biggest position. Center For Asset Management LLC’s holdings in NVIDIA were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter worth approximately $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the first quarter worth about $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $125.04, for a total value of $15,004,800.00. Following the sale, the chief executive officer now directly owns 80,094,995 shares of the company’s stock, valued at $10,015,078,174.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,472,303 shares of company stock worth $417,461,507. 4.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVDA. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Westpark Capital increased their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. DA Davidson restated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Sanford C. Bernstein upped their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Citigroup raised their price objective on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Stock Performance

Shares of NVDA opened at $116.00 on Monday. The firm has a market cap of $2.85 trillion, a price-to-earnings ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The company’s fifty day moving average is $115.99 and its 200-day moving average is $107.24. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. 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 business posted $0.25 earnings per share. The business’s quarterly revenue was up 122.4% on a year-over-year basis. Equities analysts expect that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding 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 an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed 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 dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is 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.