Moss Adams Wealth Advisors LLC Has $5.63 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Moss Adams Wealth Advisors LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,181.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 45,588 shares of the computer hardware maker’s stock after purchasing an additional 42,031 shares during the period. NVIDIA makes up 0.8% of Moss Adams Wealth Advisors LLC’s holdings, making the stock its 17th biggest holding. Moss Adams Wealth Advisors LLC’s holdings in NVIDIA were worth $5,632,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the transaction, the chief executive officer now directly owns 80,814,995 shares of the company’s stock, valued at $10,980,333,370.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 5,288,862 shares of the company’s stock, valued at approximately $671,632,585.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the transaction, the chief executive officer now directly owns 80,814,995 shares of the company’s stock, valued at $10,980,333,370.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,845,633 shares of company stock worth $467,359,322. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Up 1.5 %

Shares of NVDA opened at $108.10 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The company has a market capitalization of $2.66 trillion, a P/E ratio of 63.22, a P/E/G ratio of 0.93 and a beta of 1.67. The firm’s 50 day simple moving average is $117.97 and its 200 day simple moving average is $105.29.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. Sell-side analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are 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 issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

Analyst Ratings Changes

Several research firms recently commented on NVDA. Piper Sandler reiterated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Tigress Financial raised their target price on NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA 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.