Arlington Trust Co LLC Purchases 52,699 Shares of NVIDIA Co. (NASDAQ:NVDA)

Arlington Trust Co LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 845.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 58,930 shares of the computer hardware maker’s stock after buying an additional 52,699 shares during the quarter. NVIDIA comprises about 1.7% of Arlington Trust Co LLC’s portfolio, making the stock its 13th largest holding. Arlington Trust Co LLC’s holdings in NVIDIA were worth $7,280,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. tru Independence LLC bought a new position in NVIDIA in the second quarter valued at approximately $394,000. Emerald Advisers LLC increased its stake in shares of NVIDIA by 836.5% in the 2nd quarter. Emerald Advisers LLC now owns 71,410 shares of the computer hardware maker’s stock valued at $8,822,000 after purchasing an additional 63,785 shares during the last quarter. Koss Olinger Consulting LLC raised its holdings in shares of NVIDIA by 3,574.9% during the 2nd quarter. Koss Olinger Consulting LLC now owns 22,527 shares of the computer hardware maker’s stock worth $2,783,000 after buying an additional 21,914 shares in the last quarter. Pier 88 Investment Partners LLC lifted its position in shares of NVIDIA by 36.8% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 3,200 shares of the computer hardware maker’s stock worth $395,000 after buying an additional 860 shares during the last quarter. Finally, Caprock Group LLC boosted its stake in NVIDIA by 1,496.5% in the second quarter. Caprock Group LLC now owns 718,328 shares of the computer hardware maker’s stock valued at $88,742,000 after buying an additional 673,334 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Cowen raised NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, StockNews.com lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $142.10.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 125,000 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total value of $15,326,250.00. Following the completion of the transaction, the director now directly owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the transaction, the executive vice president now owns 3,939,350 shares in the company, valued at approximately $512,509,435. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 125,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total value of $15,326,250.00. Following the sale, the director now directly owns 8,255,117 shares of the company’s stock, valued at approximately $1,012,159,895.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,577,403 shares of company stock valued at $420,166,534 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 0.2 %

Shares of NVDA opened at $132.65 on Thursday. The business’s 50-day moving average price is $117.17 and its 200-day moving average price is $110.01. 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 twelve month low of $39.23 and a twelve month high of $140.76. The stock has a market cap of $3.26 trillion, a PE ratio of 77.57, a P/E/G ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the business earned $0.25 EPS. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is presently 2.34%.

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