Bridge Advisory LLC Acquires 13,504 Shares of NVIDIA Co. (NASDAQ:NVDA)

Bridge Advisory LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,011.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,839 shares of the computer hardware maker’s stock after purchasing an additional 13,504 shares during the quarter. Bridge Advisory LLC’s holdings in NVIDIA were worth $1,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in NVIDIA in the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter worth approximately $27,000. HBC Financial Services PLLC bought a new position in NVIDIA in the 1st quarter worth approximately $30,000. Norwood Financial Corp bought a new position in NVIDIA in the 1st quarter worth approximately $45,000. Finally, Coston McIsaac & Partners boosted its stake in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The disclosure for this sale can be found here. Insiders have sold 3,725,633 shares of company stock valued at $451,910,522 over the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 8.1 %

Shares of NVDA stock opened at $116.91 on Thursday. The stock has a 50 day moving average of $117.74 and a 200 day moving average of $105.37. 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 market cap of $2.88 trillion, a P/E ratio of 68.37, a P/E/G ratio of 0.93 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Co. will post 2.64 EPS for the current year.

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

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVDA. Bank of America reaffirmed a “buy” rating and set a $165.00 price objective on shares of NVIDIA in a report on Thursday, September 5th. KeyCorp upped their price objective on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Morgan Stanley upped their price objective on NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Citigroup upped their price objective on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group upped their price objective on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.