Lebenthal Global Advisors LLC Has $6.32 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Lebenthal Global Advisors LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 845.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,121 shares of the computer hardware maker’s stock after purchasing an additional 45,715 shares during the quarter. NVIDIA comprises 1.4% of Lebenthal Global Advisors LLC’s portfolio, making the stock its 13th biggest holding. Lebenthal Global Advisors LLC’s holdings in NVIDIA were worth $6,316,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Reik & CO. LLC raised its holdings in NVIDIA by 910.0% in the 2nd quarter. Reik & CO. LLC now owns 6,060 shares of the computer hardware maker’s stock valued at $749,000 after acquiring an additional 5,460 shares in the last quarter. Avitas Wealth Management LLC increased its position in shares of NVIDIA by 888.8% during the second quarter. Avitas Wealth Management LLC now owns 327,860 shares of the computer hardware maker’s stock valued at $40,504,000 after purchasing an additional 294,703 shares during the period. Flagstone Financial Management acquired a new position in shares of NVIDIA in the second quarter valued at $303,000. Everhart Financial Group Inc. lifted its position in NVIDIA by 1,004.4% in the second quarter. Everhart Financial Group Inc. now owns 167,985 shares of the computer hardware maker’s stock worth $20,753,000 after purchasing an additional 152,775 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its stake in NVIDIA by 925.0% during the second quarter. Premier Path Wealth Partners LLC now owns 139,739 shares of the computer hardware maker’s stock worth $17,263,000 after buying an additional 126,106 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

NASDAQ:NVDA opened at $119.10 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The firm has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 69.65, a P/E/G ratio of 1.06 and a beta of 1.67. The stock’s 50 day moving average price is $117.42 and its two-hundred day moving average price is $105.74. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued 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 analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00. Following the transaction, the chief executive officer now owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Colette Kress sold 100,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the sale, the chief financial officer now owns 5,288,862 shares in the company, valued at approximately $671,632,585.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s 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 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. Insiders sold 3,845,633 shares of company stock valued at $465,330,122 in the last three months. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on NVDA shares. UBS Group upped their price target on NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Raymond James lifted their price target on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Wedbush reiterated an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $135.00 price target on shares of NVIDIA in a report on Monday, August 19th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

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.