Focused Wealth Management Inc Has $2.81 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Focused Wealth Management Inc raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 877.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,708 shares of the computer hardware maker’s stock after purchasing an additional 20,385 shares during the period. Focused Wealth Management Inc’s holdings in NVIDIA were worth $2,805,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. BLB&B Advisors LLC lifted its holdings in shares of NVIDIA by 843.8% during the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock worth $70,513,000 after acquiring an additional 510,294 shares during the period. Cypress Point Wealth Management LLC grew its position in shares of NVIDIA by 772.8% during the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock worth $739,000 after buying an additional 5,294 shares during the period. McAdam LLC grew its position in shares of NVIDIA by 945.0% during the 2nd quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock worth $10,453,000 after buying an additional 76,517 shares during the period. MBA Advisors LLC boosted its stake in NVIDIA by 972.8% during the 2nd quarter. MBA Advisors LLC now owns 11,575 shares of the computer hardware maker’s stock worth $1,430,000 after acquiring an additional 10,496 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC boosted its stake in NVIDIA by 863.2% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 429,618 shares of the computer hardware maker’s stock worth $53,075,000 after acquiring an additional 385,015 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA 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 transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The sale 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 NVIDIA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The disclosure for this sale can be found here. Insiders have sold 4,397,403 shares of company stock valued at $526,762,784 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 2.1 %

NVDA stock opened at $121.40 on Friday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company has a market cap of $2.98 trillion, a price-to-earnings ratio of 70.99, a P/E/G ratio of 1.05 and a beta of 1.67. The business’s 50-day moving average is $115.81 and its two-hundred day moving average is $107.87.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business 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%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has approved a stock 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 buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Needham & Company LLC upped their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. HSBC upped their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $142.10.

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.