SlateStone Wealth LLC Has $30.17 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

SlateStone Wealth LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 655.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,237 shares of the computer hardware maker’s stock after acquiring an additional 211,920 shares during the quarter. NVIDIA makes up approximately 3.3% of SlateStone Wealth LLC’s holdings, making the stock its 5th largest holding. SlateStone Wealth LLC’s holdings in NVIDIA were worth $30,173,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Baader Bank Aktiengesellschaft lifted its stake in shares of NVIDIA by 34.9% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after purchasing an additional 11,445 shares during the period. OMNI 360 Wealth Inc. bought a new position in NVIDIA during the 4th quarter worth approximately $240,000. Monolith Management Ltd bought a new stake in shares of NVIDIA in the 4th quarter valued at $9,483,000. Pacific Sun Financial Corp acquired a new stake in shares of NVIDIA during the fourth quarter worth about $214,000. Finally, Bedel Financial Consulting Inc. increased its position in shares of NVIDIA by 10.7% during the fourth quarter. Bedel Financial Consulting Inc. now owns 2,262 shares of the computer hardware maker’s stock worth $1,120,000 after acquiring an additional 219 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Down 1.0 %

Shares of NVIDIA stock opened at $115.59 on Wednesday. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a market capitalization of $2.84 trillion, a PE ratio of 67.60, a P/E/G ratio of 1.06 and a beta of 1.67. The company’s fifty day simple moving average is $116.88 and its 200-day simple moving average is $106.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the firm earned $0.25 EPS. The company’s revenue was up 122.4% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given 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 dividend yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’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 sale, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at $10,980,333,370.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was 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 directly owns 80,814,995 shares in the company, valued at $10,980,333,370.65. 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 insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NVDA shares. DA Davidson reiterated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. Bank of America restated a “buy” rating and set a $165.00 price objective on shares of NVIDIA in a report on Thursday, September 5th. Oppenheimer reissued an “outperform” rating and issued a $110.00 target price on shares of NVIDIA in a research report on Thursday, May 23rd. Finally, KeyCorp lifted their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Five research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Profile

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.