NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 861.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,232 shares of the computer hardware maker’s stock after acquiring an additional 236,747 shares during the quarter. NVIDIA accounts for 3.4% of Proficio Capital Partners LLC’s portfolio, making the stock its 7th largest position. Proficio Capital Partners LLC’s holdings in NVIDIA were worth $32,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Aveo Capital Partners LLC increased its stake in shares of NVIDIA by 30.5% in the fourth quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after buying an additional 549 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in shares of NVIDIA by 60.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after buying an additional 5,496 shares in the last quarter. Moran Wealth Management LLC increased its stake in shares of NVIDIA by 937.4% in the fourth quarter. Moran Wealth Management LLC now owns 23,455 shares of the computer hardware maker’s stock valued at $11,615,000 after buying an additional 21,194 shares in the last quarter. Pacific Sun Financial Corp acquired a new stake in shares of NVIDIA in the fourth quarter valued at $214,000. Finally, Nordwand Advisors LLC boosted its holdings in NVIDIA by 40.0% in the fourth quarter. Nordwand Advisors LLC now owns 140 shares of the computer hardware maker’s stock valued at $69,000 after acquiring an additional 40 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. DA Davidson reiterated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Jefferies Financial Group raised their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday, June 24th. Morgan Stanley raised their price target on NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Citigroup raised their price target on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.10.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the transaction, the chief executive officer now directly owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the completion of the sale, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at $10,980,333,370.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,845,633 shares of company stock valued at $465,330,122. 4.23% of the stock is owned by insiders.

NVIDIA Stock Down 1.0 %

Shares of NVIDIA stock opened at $115.59 on Wednesday. The business’s 50 day simple moving average is $116.88 and its 200 day simple moving average is $106.63. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The firm has a market cap of $2.84 trillion, a PE ratio of 67.60, a P/E/G ratio of 1.06 and a beta of 1.67. 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 (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (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 business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the firm earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be 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 is Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA announced that its board has initiated a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.