Graypoint LLC Has $55.67 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Graypoint LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 907.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 450,633 shares of the computer hardware maker’s stock after purchasing an additional 405,919 shares during the period. NVIDIA makes up about 3.8% of Graypoint LLC’s portfolio, making the stock its 4th largest holding. Graypoint LLC’s holdings in NVIDIA were worth $55,671,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Aveo Capital Partners LLC raised its position in shares of NVIDIA by 30.5% in the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after buying an additional 549 shares in the last quarter. Gryphon Financial Partners LLC increased its position in NVIDIA by 60.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after purchasing an additional 5,496 shares in the last quarter. Solidarity Wealth LLC increased its position in NVIDIA by 5.3% during the 4th quarter. Solidarity Wealth LLC now owns 1,372 shares of the computer hardware maker’s stock worth $679,000 after purchasing an additional 69 shares in the last quarter. Holistic Financial Partners increased its position in NVIDIA by 1.8% in the 4th quarter. Holistic Financial Partners now owns 3,327 shares of the computer hardware maker’s stock valued at $1,648,000 after acquiring an additional 58 shares during the period. Finally, Weiss Asset Management LP acquired a new position in NVIDIA in the 4th quarter valued at approximately $6,973,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $121.40 on Friday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a 50-day simple moving average of $115.88 and a 200 day simple moving average of $108.23. 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 company has a market capitalization of $2.99 trillion, a PE ratio of 70.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

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

NVIDIA declared that its board has approved a share 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Insiders Place Their Bets

In other NVIDIA news, 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 transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The disclosure for this sale can be found here. Insiders sold 4,397,403 shares of company stock worth $526,762,784 over the last quarter. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Susquehanna upped their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research report on Monday, June 10th. Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Raymond James upped their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Citigroup upped their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $142.10.

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.