NVIDIA Co. (NASDAQ:NVDA) Stake Raised by Rooted Wealth Advisors Inc.

Rooted Wealth Advisors Inc. raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 907.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,576 shares of the computer hardware maker’s stock after acquiring an additional 13,129 shares during the period. Rooted Wealth Advisors Inc.’s holdings in NVIDIA were worth $1,765,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI increased their price target on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. StockNews.com lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, Westpark Capital boosted their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $115.59 on Wednesday. The business’s 50-day simple moving average is $116.88 and its 200-day simple moving average is $106.63. 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 Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The firm has a market cap of $2.84 trillion, a price-to-earnings ratio of 67.60, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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. 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 last year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, equities research analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio is 2.34%.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 385,000 shares of NVIDIA stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the transaction, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the sale, the director now owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. The disclosure for this sale can be found here. Insiders sold 3,845,633 shares of company stock worth $465,330,122 over the last ninety days. Company insiders own 4.23% of the company’s stock.

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.