Wealthspire Advisors LLC Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Wealthspire Advisors LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,068.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,587 shares of the computer hardware maker’s stock after buying an additional 113,008 shares during the period. Wealthspire Advisors LLC’s holdings in NVIDIA were worth $15,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the 1st quarter worth approximately $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA in the first quarter valued at approximately $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company raised their price target on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Citigroup raised their target price on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. DA Davidson reiterated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Truist Financial raised their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research note on Monday, August 5th. Five investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.46.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $122.23, for a total value of $14,667,600.00. Following the completion of the sale, the chief executive officer now owns 78,294,995 shares in the company, valued at $9,569,997,238.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the completion of the transaction, the chief executive officer now directly owns 78,294,995 shares of the company’s stock, valued at approximately $9,569,997,238.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,996,270 shares of company stock worth $347,729,127 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $136.93 on Friday. The business’s 50-day moving average price is $121.22 and its 200 day moving average price is $111.86. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a market cap 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. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.89.

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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, equities research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.