NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Wright Investors Service Inc.

Wright Investors Service Inc. lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 934.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,142 shares of the computer hardware maker’s stock after purchasing an additional 105,822 shares during the quarter. NVIDIA accounts for 3.8% of Wright Investors Service Inc.’s investment portfolio, making the stock its 3rd largest holding. Wright Investors Service Inc.’s holdings in NVIDIA were worth $14,472,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. increased its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the first quarter valued at $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter worth about $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NVDA. DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Bank of America reaffirmed a “buy” rating and issued a $165.00 target price on shares of NVIDIA in a report on Thursday, September 5th. Loop Capital restated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. Finally, Melius Research boosted their price objective on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.10.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 385,000 shares of NVIDIA stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the sale, the director now directly owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.84, for a total value of $14,500,800.00. Following the transaction, the chief executive officer now directly owns 80,574,995 shares in the company, valued at $9,736,682,395.80. The disclosure for this sale can be found here. Insiders sold a total of 3,692,303 shares of company stock valued at $444,047,307 in the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.6 %

Shares of NASDAQ:NVDA opened at $116.00 on Friday. 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 business has a 50 day simple moving average of $115.99 and a two-hundred day simple moving average of $106.97. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The firm has a market capitalization of $2.85 trillion, a PE ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 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 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 prior year, the company posted $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. On average, equities analysts predict that NVIDIA Co. will post 2.64 EPS for the current year.

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 issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign 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.