AM Investment Strategies LLC Purchases 23,931 Shares of NVIDIA Co. (NASDAQ:NVDA)

AM Investment Strategies LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 965.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 26,411 shares of the computer hardware maker’s stock after acquiring an additional 23,931 shares during the period. NVIDIA makes up approximately 0.8% of AM Investment Strategies LLC’s holdings, making the stock its 19th largest holding. AM Investment Strategies LLC’s holdings in NVIDIA were worth $3,263,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. BLB&B Advisors LLC boosted its position in NVIDIA by 843.8% during the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after acquiring an additional 510,294 shares in the last quarter. Cypress Point Wealth Management LLC boosted its position in NVIDIA by 772.8% during the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock valued at $739,000 after acquiring an additional 5,294 shares in the last quarter. McAdam LLC lifted its holdings in shares of NVIDIA by 945.0% during the second quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock valued at $10,453,000 after purchasing an additional 76,517 shares during the last quarter. Perennial Advisors LLC lifted its holdings in shares of NVIDIA by 910.9% during the second quarter. Perennial Advisors LLC now owns 147,838 shares of the computer hardware maker’s stock valued at $18,264,000 after purchasing an additional 133,213 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD lifted its holdings in shares of NVIDIA by 752.9% during the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 56,720 shares of the computer hardware maker’s stock valued at $7,006,000 after purchasing an additional 50,070 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of several recent research reports. Tigress Financial lifted their target price on shares of NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Truist Financial lifted their target price on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Wells Fargo & Company lifted their target price on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Craig Hallum boosted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Price Performance

Shares of NVDA opened at $116.00 on Monday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The firm’s fifty day simple moving average is $115.99 and its 200-day simple moving average is $107.24. The firm has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm 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% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. Equities analysts forecast that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a $0.01 dividend. 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 dividend payout ratio (DPR) is presently 2.34%.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $124.88, for a total value of $14,985,600.00. Following the sale, the chief executive officer now directly owns 80,334,995 shares of the company’s stock, valued at approximately $10,032,234,175.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,472,303 shares of company stock worth $417,461,507. Company insiders own 4.23% of the company’s stock.

About NVIDIA

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.