1834 Investment Advisors Co. Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

1834 Investment Advisors Co. lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 709.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,410 shares of the computer hardware maker’s stock after purchasing an additional 23,149 shares during the period. 1834 Investment Advisors Co.’s holdings in NVIDIA were worth $3,263,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the first quarter valued at approximately $27,000. HBC Financial Services PLLC purchased a new stake in NVIDIA during the first quarter valued at approximately $30,000. Norwood Financial Corp purchased a new stake in NVIDIA during the first quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners lifted its position in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $116.00 on Friday. 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 company has a market cap of $2.85 trillion, a price-to-earnings ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The firm’s fifty day simple moving average is $115.99 and its two-hundred day simple moving average is $107.11.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is 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.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of analyst reports. Barclays decreased their target price on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Mizuho upped their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Loop Capital restated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. DA Davidson restated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Tigress Financial upped their price target on shares of NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, 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 value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,188,862 shares in the company, valued at $627,073,972.70. The disclosure for this sale can be found here. Insiders have sold a total of 3,692,303 shares of company stock valued at $444,047,307 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

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.