Charter Oak Capital Management LLC Acquires 7,981 Shares of NVIDIA Co. (NASDAQ:NVDA)

Charter Oak Capital Management LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 885.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,882 shares of the computer hardware maker’s stock after purchasing an additional 7,981 shares during the period. Charter Oak Capital Management LLC’s holdings in NVIDIA were worth $1,097,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NVDA. Catalina Capital Group LLC raised its holdings in NVIDIA by 1,002.1% during the second quarter. Catalina Capital Group LLC now owns 94,618 shares of the computer hardware maker’s stock valued at $11,689,000 after acquiring an additional 86,033 shares during the period. Bowman & Co S.C. boosted its stake in NVIDIA by 553.2% in the 2nd quarter. Bowman & Co S.C. now owns 2,051 shares of the computer hardware maker’s stock worth $253,000 after purchasing an additional 1,737 shares during the period. Better Money Decisions LLC grew its holdings in NVIDIA by 1,146.6% during the 2nd quarter. Better Money Decisions LLC now owns 9,063 shares of the computer hardware maker’s stock valued at $1,120,000 after buying an additional 8,336 shares in the last quarter. American Financial Advisors LLC grew its holdings in NVIDIA by 875.3% during the 2nd quarter. American Financial Advisors LLC now owns 18,726 shares of the computer hardware maker’s stock valued at $2,313,000 after buying an additional 16,806 shares in the last quarter. Finally, Spinnaker Investment Group LLC raised its position in shares of NVIDIA by 1,028.0% during the second quarter. Spinnaker Investment Group LLC now owns 24,613 shares of the computer hardware maker’s stock valued at $3,041,000 after buying an additional 22,431 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’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 completion of the sale, the chief executive officer now owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA 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 completion of the transaction, the insider now directly owns 503,878 shares in the company, valued at approximately $64,582,043.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the completion of the sale, the chief executive officer now owns 80,814,995 shares in the company, 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 worth $465,330,122. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 0.0 %

NASDAQ NVDA opened at $119.10 on Friday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The firm has a 50 day simple moving average of $117.42 and a 200-day simple moving average of $105.74. The firm has a market cap of $2.92 trillion, a price-to-earnings ratio of 69.65, a PEG ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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 company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the business earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities research analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

Analyst Ratings Changes

A number of brokerages have issued reports on NVDA. Raymond James lifted their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Barclays reduced their target price on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 10th. DA Davidson reissued a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. StockNews.com cut NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, 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. 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 company’s stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Company 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.