Matisse Capital Has $893,000 Holdings in NVIDIA Co. (NASDAQ:NVDA)

Matisse Capital increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 425.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,228 shares of the computer hardware maker’s stock after acquiring an additional 5,853 shares during the period. Matisse Capital’s holdings in NVIDIA were worth $893,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth about $27,000. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Barclays cut their price objective on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, June 10th. Citigroup boosted their target price on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Needham & Company LLC increased their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Trading Up 0.4 %

Shares of NVDA stock opened at $124.04 on Friday. 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 Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a market cap of $3.04 trillion, a PE ratio of 72.54, a P/E/G ratio of 1.05 and a beta of 1.67. The stock’s fifty day moving average price is $115.75 and its two-hundred day moving average price is $107.76.

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 analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. Equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal 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 paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $122.78, for a total value of $14,733,600.00. Following the completion of the transaction, the chief executive officer now directly owns 79,974,995 shares in the company, valued at approximately $9,819,329,886.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $122.78, for a total value of $14,733,600.00. Following the completion of the transaction, the chief executive officer now owns 79,974,995 shares of the company’s stock, valued at approximately $9,819,329,886.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The disclosure for this sale can be found here. Insiders have sold 4,397,403 shares of company stock worth $526,762,784 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

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.