NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Leisure Capital Management

Leisure Capital Management increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 856.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,985 shares of the computer hardware maker’s stock after acquiring an additional 17,896 shares during the period. NVIDIA makes up about 1.2% of Leisure Capital Management’s investment portfolio, making the stock its 22nd largest position. Leisure Capital Management’s holdings in NVIDIA were worth $2,469,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Encompass More Asset Management increased its stake in NVIDIA by 1,613.4% in the 2nd quarter. Encompass More Asset Management now owns 11,274 shares of the computer hardware maker’s stock worth $1,393,000 after purchasing an additional 10,616 shares in the last quarter. Tower View Wealth Management LLC increased its holdings in shares of NVIDIA by 782.3% in the 2nd quarter. Tower View Wealth Management LLC now owns 53,960 shares of the computer hardware maker’s stock valued at $6,666,000 after purchasing an additional 47,844 shares during the period. 1834 Investment Advisors Co. increased its holdings in shares of NVIDIA by 709.9% in the 2nd quarter. 1834 Investment Advisors Co. now owns 26,410 shares of the computer hardware maker’s stock valued at $3,263,000 after purchasing an additional 23,149 shares during the period. Significant Wealth Partners LLC increased its holdings in shares of NVIDIA by 409.2% in the 2nd quarter. Significant Wealth Partners LLC now owns 6,620 shares of the computer hardware maker’s stock valued at $818,000 after purchasing an additional 5,320 shares during the period. Finally, Guidance Point Advisors LLC increased its holdings in shares of NVIDIA by 430.7% in the 2nd quarter. Guidance Point Advisors LLC now owns 2,887 shares of the computer hardware maker’s stock valued at $357,000 after purchasing an additional 2,343 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NVDA shares. Truist Financial upped their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. HSBC upped their target price on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upped their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $135.00 target price on shares of NVIDIA in a research report on Monday, August 19th. Finally, Barclays reduced their price objective on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 100,000 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 5,188,862 shares in the company, valued at $627,073,972.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.84, for a total value of $14,500,800.00. Following the transaction, the chief executive officer now owns 80,574,995 shares in the company, valued at $9,736,682,395.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $12,085,000.00. Following the completion of the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,692,303 shares of company stock worth $444,047,307. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $116.00 on Friday. 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 fifty day moving average price of $115.99 and a two-hundred day moving average price of $107.11. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The firm has a market capitalization of $2.85 trillion, a P/E ratio of 67.84, a P/E/G ratio of 1.06 and a beta of 1.67.

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

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders 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 dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA declared that its board has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.