Arcadia Wealth Management LLC Acquires 4,946 Shares of NVIDIA Co. (NASDAQ:NVDA)

Arcadia Wealth Management LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 863.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,519 shares of the computer hardware maker’s stock after purchasing an additional 4,946 shares during the period. Arcadia Wealth Management LLC’s holdings in NVIDIA were worth $682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aveo Capital Partners LLC grew its position in NVIDIA by 30.5% in the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after purchasing an additional 549 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in NVIDIA by 60.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after acquiring an additional 5,496 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its stake in NVIDIA by 112.5% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 710,612 shares of the computer hardware maker’s stock valued at $345,054,000 after acquiring an additional 376,274 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in NVIDIA in the fourth quarter valued at about $2,693,000. Finally, Private Wealth Management Group LLC purchased a new position in NVIDIA in the fourth quarter valued at about $211,000. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The transaction was disclosed in a document filed 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 dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The disclosure for this sale can be found here. Insiders sold a total of 3,692,303 shares of company stock valued at $444,047,307 in the last three months. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NVDA. Westpark Capital upped their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Jefferies Financial Group increased their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Robert W. Baird increased their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, DZ Bank lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price target on the stock. in a report on Friday, May 24th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Trading Down 1.6 %

NASDAQ:NVDA opened at $116.00 on Friday. The company has a 50-day moving average price of $115.99 and a 200-day moving average price of $106.97. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.85 trillion, a price-to-earnings ratio of 67.84, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the company posted $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. Equities analysts predict that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors 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 yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

NVIDIA Company 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.