NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Ingalls & Snyder LLC

Ingalls & Snyder LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 846.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 210,610 shares of the computer hardware maker’s stock after purchasing an additional 188,358 shares during the period. NVIDIA accounts for about 1.1% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 19th biggest holding. Ingalls & Snyder LLC’s holdings in NVIDIA were worth $26,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lafayette Investments Inc. raised its stake in NVIDIA by 901.8% during the 2nd quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after purchasing an additional 5,140 shares during the period. Duncker Streett & Co. Inc. lifted its stake in NVIDIA by 850.3% during the second quarter. Duncker Streett & Co. Inc. now owns 115,995 shares of the computer hardware maker’s stock worth $14,330,000 after purchasing an additional 103,789 shares during the period. Commonwealth Equity Services LLC lifted its stake in NVIDIA by 907.5% during the second quarter. Commonwealth Equity Services LLC now owns 12,471,701 shares of the computer hardware maker’s stock worth $1,540,754,000 after purchasing an additional 11,233,763 shares during the period. J. W. Coons Advisors LLC increased its holdings in shares of NVIDIA by 919.6% in the second quarter. J. W. Coons Advisors LLC now owns 26,060 shares of the computer hardware maker’s stock valued at $3,219,000 after purchasing an additional 23,504 shares in the last quarter. Finally, Watershed Private Wealth LLC grew its holdings in NVIDIA by 884.6% during the 2nd quarter. Watershed Private Wealth LLC now owns 62,710 shares of the computer hardware maker’s stock worth $7,747,000 after acquiring an additional 56,341 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NVDA. DA Davidson reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $135.00 price objective on shares of NVIDIA in a research report on Monday, August 19th. Westpark Capital raised their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Truist Financial lifted their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Five investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 79,974,995 shares in the company, valued at $9,819,329,886.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the completion of the transaction, the chief executive officer now owns 79,974,995 shares in the company, valued at approximately $9,819,329,886.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 4,397,403 shares of company stock valued at $526,762,784 over the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Trading Down 2.1 %

Shares of NVDA opened at $121.40 on Friday. The firm has a market cap of $2.98 trillion, a P/E ratio of 70.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The business has a 50-day moving average of $115.81 and a 200 day moving average of $107.87. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business 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 quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. As a group, research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

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 paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are 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.