NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Dodds Wealth LLC

Dodds Wealth LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,214.8% in the second quarter, HoldingsChannel reports. The fund owned 12,530 shares of the computer hardware maker’s stock after buying an additional 11,577 shares during the quarter. NVIDIA makes up about 0.6% of Dodds Wealth LLC’s portfolio, making the stock its 19th largest position. Dodds Wealth LLC’s holdings in NVIDIA were worth $1,646,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. POM Investment Strategies LLC increased its holdings in shares of NVIDIA by 1,480.5% during the 2nd quarter. POM Investment Strategies LLC now owns 2,750 shares of the computer hardware maker’s stock worth $340,000 after buying an additional 2,576 shares during the last quarter. Access Financial Services Inc. grew its position in NVIDIA by 910.8% during the second quarter. Access Financial Services Inc. now owns 2,800 shares of the computer hardware maker’s stock valued at $346,000 after acquiring an additional 2,523 shares during the period. Keb Asset Management LLC grew its position in NVIDIA by 1,118.6% during the second quarter. Keb Asset Management LLC now owns 2,815 shares of the computer hardware maker’s stock valued at $348,000 after acquiring an additional 2,584 shares during the period. Independence Bank of Kentucky increased its stake in NVIDIA by 910.6% during the second quarter. Independence Bank of Kentucky now owns 56,815 shares of the computer hardware maker’s stock worth $7,019,000 after acquiring an additional 51,193 shares during the last quarter. Finally, Optas LLC raised its holdings in shares of NVIDIA by 930.2% in the 2nd quarter. Optas LLC now owns 115,412 shares of the computer hardware maker’s stock worth $14,258,000 after purchasing an additional 104,209 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVDA. Needham & Company LLC boosted their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. 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. Wolfe Research raised their target price on shares of NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Stifel Nicolaus upped their price target on shares of NVIDIA from $91.00 to $108.50 and gave the stock a “buy” rating in a research report on Monday, May 20th. Finally, Citigroup increased their price target on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $116.78 on Tuesday. The company has a market cap of $2.87 trillion, a PE ratio of 68.29, a P/E/G ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The firm has a 50-day simple moving average of $117.19 and a 200 day simple moving average of $106.39. 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 posted its earnings results 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. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given 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 dividend payout ratio is presently 2.34%.

NVIDIA declared that its Board of Directors has initiated a share buyback 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the transaction, the chief executive officer now owns 75,655,836 shares in the company, valued at $8,460,592,139.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NVIDIA news, 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 transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now owns 3,939,350 shares in the company, valued at approximately $512,509,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total value of $13,419,600.00. Following the transaction, the chief executive officer now directly owns 75,655,836 shares in the company, valued at $8,460,592,139.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,845,633 shares of company stock worth $465,330,122. 4.23% of the stock is owned by 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.