Signature Estate & Investment Advisors LLC Purchases 76,306 Shares of NVIDIA Co. (NASDAQ:NVDA)

Signature Estate & Investment Advisors LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 1,691.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 80,816 shares of the computer hardware maker’s stock after acquiring an additional 76,306 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in NVIDIA were worth $9,984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Bank of New York Mellon Corp increased its position in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after acquiring an additional 71,757,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after acquiring an additional 57,160,191 shares during the last quarter. Swedbank AB increased its position in shares of NVIDIA by 798.8% during the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after acquiring an additional 34,678,944 shares during the last quarter. Finally, Norges Bank bought a new position in NVIDIA during the fourth quarter valued at $14,606,369,000. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the transaction, the insider now owns 503,878 shares in the company, valued at approximately $64,582,043.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the sale, the chief financial officer now owns 5,188,862 shares of the company’s stock, valued at approximately $627,073,972.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the sale, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. Insiders have sold 3,725,633 shares of company stock worth $449,025,722 in the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 1.9 %

Shares of NASDAQ NVDA opened at $113.37 on Thursday. The stock has a market cap of $2.79 trillion, a price-to-earnings ratio of 66.30, a P/E/G ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company’s fifty day moving average is $116.45 and its 200-day moving average is $106.68. 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 (NASDAQ:NVDA) last issued its quarterly 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 2.64 EPS for the current year.

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is presently 2.34%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NVDA. Morgan Stanley increased their price objective on NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. StockNews.com lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Oppenheimer reaffirmed an “outperform” rating and issued a $110.00 price target on shares of NVIDIA in a report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price target on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Craig Hallum raised their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

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.