NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Diversified LLC

Diversified LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,245.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 60,521 shares of the computer hardware maker’s stock after purchasing an additional 56,022 shares during the quarter. NVIDIA comprises about 0.9% of Diversified LLC’s holdings, making the stock its 13th largest position. Diversified LLC’s holdings in NVIDIA were worth $7,477,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC boosted its holdings in NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after acquiring an additional 549 shares during the period. Gryphon Financial Partners LLC lifted its holdings in NVIDIA by 60.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after buying an additional 5,496 shares in the last quarter. RMR Wealth Builders boosted its position in NVIDIA by 2.4% in the 4th quarter. RMR Wealth Builders now owns 25,381 shares of the computer hardware maker’s stock valued at $12,569,000 after buying an additional 591 shares during the period. Meridian Wealth Advisors LLC grew its stake in shares of NVIDIA by 0.4% in the fourth quarter. Meridian Wealth Advisors LLC now owns 5,714 shares of the computer hardware maker’s stock worth $2,830,000 after acquiring an additional 22 shares in the last quarter. Finally, Valtinson Bruner Financial Planning LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth $316,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NVDA. Citigroup upped their price target on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Truist Financial increased their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. UBS Group boosted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Finally, Susquehanna increased their price objective on NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Stock Up 1.9 %

NVDA opened at $119.14 on Friday. The firm has a market cap of $2.93 trillion, a P/E ratio of 69.67, a PEG ratio of 0.93 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $117.55 and its 200 day simple moving average is $105.46. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76.

NVIDIA (NASDAQ:NVDA) last released 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 firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Colette Kress sold 100,000 shares of the firm’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 value of $12,085,000.00. Following the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at $627,073,972.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the sale, the chief executive officer now 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. Over the last quarter, insiders sold 3,845,633 shares of company stock valued at $465,330,122. Insiders own 4.23% of the company’s stock.

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.