NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Legacy Advisors LLC

Legacy Advisors LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,068.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,896 shares of the computer hardware maker’s stock after buying an additional 85,857 shares during the quarter. NVIDIA comprises 1.4% of Legacy Advisors LLC’s portfolio, making the stock its 14th largest position. Legacy Advisors LLC’s holdings in NVIDIA were worth $11,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Klingman & Associates LLC grew its holdings in shares of NVIDIA by 956.3% during the second quarter. Klingman & Associates LLC now owns 24,791 shares of the computer hardware maker’s stock valued at $3,063,000 after purchasing an additional 22,444 shares during the last quarter. Rothschild Investment LLC acquired a new stake in NVIDIA in the second quarter worth approximately $59,005,000. Blue Fin Capital Inc. lifted its position in NVIDIA by 859.4% in the second quarter. Blue Fin Capital Inc. now owns 716,227 shares of the computer hardware maker’s stock worth $88,483,000 after purchasing an additional 641,575 shares during the period. Martin Capital Advisors LLP lifted its position in NVIDIA by 750.4% in the second quarter. Martin Capital Advisors LLP now owns 56,670 shares of the computer hardware maker’s stock worth $7,001,000 after purchasing an additional 50,006 shares during the period. Finally, United Capital Management of KS Inc. lifted its position in NVIDIA by 879.5% in the second quarter. United Capital Management of KS Inc. now owns 198,431 shares of the computer hardware maker’s stock worth $24,514,000 after purchasing an additional 178,172 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NVDA shares. Piper Sandler restated an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. William Blair assumed coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Evercore ISI increased their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Morgan Stanley increased their price objective on NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Wedbush restated an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Trading Down 2.1 %

NVIDIA stock opened at $121.40 on Friday. 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’s 50-day simple moving average is $115.81 and its 200-day simple moving average is $107.87. The firm has a market capitalization of $2.98 trillion, a PE ratio of 70.99, a PEG ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the transaction, the director now directly owns 8,420,117 shares in the company, valued at $1,021,107,588.59. 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 three months. 4.23% of the stock is owned by corporate insiders.

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.