Quotient Wealth Partners LLC Has $10.40 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Quotient Wealth Partners LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 979.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,160 shares of the computer hardware maker’s stock after purchasing an additional 76,362 shares during the quarter. NVIDIA comprises 0.4% of Quotient Wealth Partners LLC’s holdings, making the stock its 29th biggest position. Quotient Wealth Partners LLC’s holdings in NVIDIA were worth $10,397,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Tuesday, August 6th. UBS Group lifted their target price on NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Wells Fargo & Company upped their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. 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 stock. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Stock Down 0.0 %

Shares of NVDA opened at $119.10 on Friday. The stock has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 69.65, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a fifty day moving average of $117.42 and a 200-day moving average of $105.74.

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

NVIDIA Cuts Dividend

The firm also recently announced 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. 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 payout ratio is currently 2.34%.

NVIDIA declared that its board has authorized a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 transaction, the chief executive officer now owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction 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 sale, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,845,633 shares of company stock valued at $465,330,122. 4.23% of the stock is currently owned by company insiders.

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.