NVIDIA Co. (NASDAQ:NVDA) Holdings Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 894.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,361,087 shares of the computer hardware maker’s stock after buying an additional 18,314,440 shares during the period. NVIDIA accounts for 0.9% of Envestnet Asset Management Inc.’s portfolio, making the stock its 17th biggest holding. Envestnet Asset Management Inc.’s holdings in NVIDIA were worth $2,515,409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. First Hawaiian Bank grew its holdings in NVIDIA by 12.6% during the first quarter. First Hawaiian Bank now owns 17,168 shares of the computer hardware maker’s stock worth $15,512,000 after acquiring an additional 1,922 shares during the period. Carolina Wealth Advisors LLC boosted its position in shares of NVIDIA by 102.0% during the 1st quarter. Carolina Wealth Advisors LLC now owns 99 shares of the computer hardware maker’s stock valued at $89,000 after purchasing an additional 50 shares in the last quarter. Pensionfund Sabic acquired a new position in shares of NVIDIA in the 1st quarter worth approximately $904,000. Benchmark Wealth Management LLC bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $271,000. Finally, Tompkins Financial Corp lifted its stake in NVIDIA by 5.4% during the first quarter. Tompkins Financial Corp now owns 23,194 shares of the computer hardware maker’s stock valued at $20,957,000 after purchasing an additional 1,188 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $136.93 on Friday. The stock has a market capitalization of $3.37 trillion, a P/E ratio of 80.08, a P/E/G ratio of 1.20 and a beta of 1.67. The business has a 50-day moving average of $121.22 and a two-hundred day moving average of $111.86. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping 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 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 company earned $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, equities research analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes 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.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,996,270 shares of company stock valued at $347,729,127. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of several research reports. KeyCorp upped their price target on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Needham & Company LLC boosted their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a research report on Thursday, October 10th. Robert W. Baird boosted their price objective on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company upped their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.46.

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.