Ameritas Advisory Services LLC Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Ameritas Advisory Services LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,085.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 233,096 shares of the computer hardware maker’s stock after buying an additional 213,425 shares during the period. NVIDIA accounts for approximately 1.1% of Ameritas Advisory Services LLC’s portfolio, making the stock its 17th largest position. Ameritas Advisory Services LLC’s holdings in NVIDIA were worth $28,797,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Aveo Capital Partners LLC raised its holdings in NVIDIA by 30.5% during the fourth 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 raised its holdings in NVIDIA by 60.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after purchasing an additional 5,496 shares in the last quarter. Allegheny Financial Group LTD raised its holdings in NVIDIA by 13.8% during the fourth quarter. Allegheny Financial Group LTD now owns 711 shares of the computer hardware maker’s stock worth $352,000 after purchasing an additional 86 shares in the last quarter. Missouri Trust & Investment Co raised its holdings in NVIDIA by 41.8% during the fourth quarter. Missouri Trust & Investment Co now owns 1,768 shares of the computer hardware maker’s stock worth $876,000 after purchasing an additional 521 shares in the last quarter. Finally, Summit X LLC raised its holdings in NVIDIA by 13.9% during the fourth quarter. Summit X LLC now owns 14,605 shares of the computer hardware maker’s stock worth $7,236,000 after purchasing an additional 1,779 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s 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 completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The disclosure for this sale can be found here. In the last three months, insiders sold 3,692,303 shares of company stock valued at $444,047,307. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $116.00 on Friday. The company’s fifty day simple moving average is $115.99 and its 200-day simple moving average is $107.11. NVIDIA Co. has a 52 week low of $39.23 and a 52 week 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 company has a market cap of $2.85 trillion, a PE ratio of 67.84, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue was up 122.4% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA declared that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The company 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 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 payout ratio is 2.34%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NVDA shares. Citigroup increased their price target on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. KeyCorp upped their target price on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Argus upped their target price on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Evercore ISI upped their target price on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Five equities research 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. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price 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.