Angeles Investment Advisors LLC Has $5.60 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Angeles Investment Advisors LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,526.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 45,306 shares of the computer hardware maker’s stock after buying an additional 42,521 shares during the period. NVIDIA makes up approximately 0.3% of Angeles Investment Advisors LLC’s investment portfolio, making the stock its 26th largest position. Angeles Investment Advisors LLC’s holdings in NVIDIA were worth $5,597,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the first quarter valued at about $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA in the first quarter valued at about $30,000. Norwood Financial Corp purchased a new position in NVIDIA in the first quarter valued at about $45,000. Finally, Coston McIsaac & Partners grew its stake in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after purchasing an additional 37 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on NVDA. Robert W. Baird boosted their target price on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Sanford C. Bernstein boosted their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. UBS Group reiterated a “buy” rating and set a $150.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Raymond James upped their price target on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

Insider Transactions at NVIDIA

In related 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 sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following 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. In the last ninety days, insiders sold 2,996,270 shares of company stock valued at $347,729,127. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.8 %

Shares of NVDA opened at $138.00 on Friday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.89. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $121.88 and a 200-day simple moving average of $112.35. The stock has a market cap of $3.39 trillion, a PE ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the firm posted $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, sell-side analysts predict 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. Stockholders of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.88%.

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

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.