Pineridge Advisors LLC Buys 1,177 Shares of NVIDIA Co. (NASDAQ:NVDA)

Pineridge Advisors LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 1,050.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,289 shares of the computer hardware maker’s stock after acquiring an additional 1,177 shares during the quarter. Pineridge Advisors LLC’s holdings in NVIDIA were worth $159,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in NVIDIA in the first quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA in the 1st quarter worth $27,000. HBC Financial Services PLLC purchased a new stake in shares of NVIDIA during the 1st quarter worth $30,000. Norwood Financial Corp bought a new stake in NVIDIA during the first quarter valued at about $45,000. Finally, Coston McIsaac & Partners grew its stake in NVIDIA by 231.3% in the first 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 last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVDA. Morgan Stanley raised their price target on shares of NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Citigroup increased their price objective on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Oppenheimer restated an “outperform” rating and set a $110.00 target price on shares of NVIDIA in a research note on Thursday, May 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the transaction, the insider now owns 503,878 shares in the company, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. Over the last ninety days, 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 1.9 %

NVDA stock opened at $116.78 on Tuesday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. 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 firm has a market cap of $2.87 trillion, a P/E ratio of 68.29, a PEG ratio of 1.06 and a beta of 1.67. The company’s 50-day simple moving average is $117.19 and its 200-day simple moving average is $106.39.

NVIDIA (NASDAQ:NVDA) last issued 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 for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

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

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.