Oxler Private Wealth LLC Has $9.95 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Oxler Private Wealth LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 910.4% in the second quarter, HoldingsChannel reports. The firm owned 80,551 shares of the computer hardware maker’s stock after buying an additional 72,579 shares during the quarter. NVIDIA makes up 3.7% of Oxler Private Wealth LLC’s investment portfolio, making the stock its 8th largest position. Oxler Private Wealth LLC’s holdings in NVIDIA were worth $9,951,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NVDA. Aveo Capital Partners LLC grew its stake in shares of NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after purchasing an additional 549 shares during the period. Gryphon Financial Partners LLC grew its stake in shares of NVIDIA by 60.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after purchasing an additional 5,496 shares during the period. Financial Advisors Network Inc. grew its stake in shares of NVIDIA by 18.6% during the 4th quarter. Financial Advisors Network Inc. now owns 2,731 shares of the computer hardware maker’s stock valued at $1,352,000 after purchasing an additional 428 shares during the period. Union Savings Bank grew its stake in shares of NVIDIA by 3.4% during the 4th quarter. Union Savings Bank now owns 890 shares of the computer hardware maker’s stock valued at $441,000 after acquiring an additional 29 shares during the period. Finally, Tidemark LLC bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $470,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $120.87 on Wednesday. The stock’s fifty day moving average is $115.64 and its two-hundred day moving average is $107.64. The company has a market capitalization of $2.97 trillion, a PE ratio of 70.68, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. 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 52 week low of $39.23 and a 52 week high of $140.76.

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. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS. As a group, analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given 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 2.34%.

NVIDIA announced that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVDA. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Benchmark reiterated a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Raymond James boosted their price objective on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Loop Capital reiterated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Finally, Barclays cut their price objective on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, June 10th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the 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 in the company, valued at approximately $698,025,289.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,352,303 shares of company stock valued at $521,745,907. 4.23% of the stock is currently owned by corporate insiders.

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.