Peregrine Asset Advisers Inc. Acquires 154,113 Shares of NVIDIA Co. (NASDAQ:NVDA)

Peregrine Asset Advisers Inc. boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 851.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,211 shares of the computer hardware maker’s stock after buying an additional 154,113 shares during the period. NVIDIA makes up about 8.5% of Peregrine Asset Advisers Inc.’s holdings, making the stock its biggest position. Peregrine Asset Advisers Inc.’s holdings in NVIDIA were worth $21,275,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the first quarter valued at $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the first quarter valued at $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup upped their target price on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Wells Fargo & Company upped their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Bank of America upped their target price on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total transaction of $14,068,800.00. Following the completion of the sale, the chief executive officer now directly owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,876,270 shares of company stock worth $333,061,527 in the last 90 days. 4.23% of the stock is owned by company insiders.

NVIDIA Price Performance

NVIDIA stock opened at $138.00 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market capitalization of $3.39 trillion, a PE ratio of 64.73, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.89. The business has a 50 day simple moving average of $121.88 and a 200 day simple moving average of $112.51.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during 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%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. On average, sell-side 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. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its board has approved a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board 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.