NVIDIA Co. (NASDAQ:NVDA) Stake Raised by Acima Private Wealth LLC

Acima Private Wealth LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 410 shares of the computer hardware maker’s stock after purchasing an additional 369 shares during the period. Acima Private Wealth LLC’s holdings in NVIDIA were worth $51,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter worth approximately $27,000. HBC Financial Services PLLC bought a new position in NVIDIA during the first quarter valued at approximately $30,000. Norwood Financial Corp acquired a new stake in NVIDIA in the first quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners grew its position in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after acquiring an additional 37 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. KeyCorp upped their price target on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Jefferies Financial Group increased their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday, June 24th. Morgan Stanley boosted their target price on NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Bank of America reiterated a “buy” rating and set a $165.00 price target on shares of NVIDIA in a report on Thursday, September 5th. Five 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $124.04 on Friday. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 72.54, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The firm has a 50 day moving average of $115.75 and a 200-day moving average of $107.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

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, sell-side analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders 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 dividend yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its Board of Directors has authorized a share buyback 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, July 1st. The stock was sold at an average price of $122.78, for a total value of $14,733,600.00. Following the sale, the chief executive officer now directly owns 79,974,995 shares of the company’s stock, valued at $9,819,329,886.10. The disclosure for this sale can be found here. Insiders have sold 4,397,403 shares of company stock valued at $526,762,784 over the last three months. 4.23% of the stock is owned by insiders.

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.