Catalytic Wealth RIA LLC Buys 63,159 Shares of NVIDIA Co. (NASDAQ:NVDA)

Catalytic Wealth RIA LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 791.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,144 shares of the computer hardware maker’s stock after purchasing an additional 63,159 shares during the quarter. NVIDIA accounts for about 1.7% of Catalytic Wealth RIA LLC’s investment portfolio, making the stock its 8th largest holding. Catalytic Wealth RIA LLC’s holdings in NVIDIA were worth $8,789,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NVDA shares. UBS Group boosted their target price on NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. HSBC increased their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley boosted their price target on NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Citigroup increased their price objective on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the sale, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,397,403 shares of company stock worth $526,762,784. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $121.40 on Friday. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The firm’s 50-day moving average price is $115.81 and its two-hundred day moving average price is $107.87. 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 stock has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 70.99, a P/E/G ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued 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 firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. On average, equities analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA announced that its board has authorized a stock buyback program 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.