NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Colonial River Wealth Management LLC

Colonial River Wealth Management LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 936.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,702 shares of the computer hardware maker’s stock after purchasing an additional 75,630 shares during the quarter. NVIDIA comprises 5.6% of Colonial River Wealth Management LLC’s portfolio, making the stock its 2nd biggest holding. Colonial River Wealth Management LLC’s holdings in NVIDIA were worth $10,341,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Baader Bank Aktiengesellschaft raised its position in shares of NVIDIA by 34.9% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after buying an additional 11,445 shares during the last quarter. Wealthspire Advisors LLC lifted its position in shares of NVIDIA by 16.3% in the 4th quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock worth $6,080,000 after acquiring an additional 1,724 shares during the period. Shared Vision Wealth Group LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $269,000. Grand Alliance Asset Management Ltd bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $29,961,000. Finally, OMNI 360 Wealth Inc. acquired a new position in shares of NVIDIA in the fourth quarter valued at $240,000. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NVDA shares. Citigroup lifted their price target on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. KeyCorp raised their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. HSBC upped their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Raymond James increased their target price on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Price Performance

Shares of NVDA opened at $106.47 on Tuesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock has a market cap of $2.61 trillion, a P/E ratio of 62.26, a price-to-earnings-growth ratio of 0.93 and a beta of 1.67. The stock’s 50-day moving average price is $118.26 and its two-hundred day moving average price is $105.08.

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 firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the business earned $0.25 earnings per share. The company’s revenue was up 122.4% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA Cuts Dividend

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

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 outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 100,000 shares of NVIDIA stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $126.99, for a total value of $12,699,000.00. Following the transaction, the chief financial officer now owns 5,288,862 shares in the company, valued at approximately $671,632,585.38. The disclosure for this sale can be found here. Insiders have sold 3,725,633 shares of company stock worth $454,719,722 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

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.