Cook Wealth LLC Has $2.75 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cook Wealth LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 898.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,250 shares of the computer hardware maker’s stock after buying an additional 20,022 shares during the period. NVIDIA accounts for approximately 1.5% of Cook Wealth LLC’s holdings, making the stock its 13th biggest holding. Cook Wealth LLC’s holdings in NVIDIA were worth $2,749,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the 1st quarter valued at approximately $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the 1st quarter worth approximately $27,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 2.1 %

Shares of NASDAQ:NVDA opened at $121.40 on Monday. The business has a 50-day moving average price of $115.88 and a 200 day moving average price of $108.35. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 70.99, a PEG 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 for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during 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 company’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.65 EPS 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 paid 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 has initiated a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent research reports. UBS Group lifted their target price on NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Wedbush restated an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Melius Research lifted their price target on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Westpark Capital increased their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total transaction of $14,913,600.00. Following the completion of the transaction, the chief executive officer now owns 79,734,995 shares in the company, valued at $9,909,465,178.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total transaction of $14,913,600.00. Following the completion of the sale, the chief executive officer now owns 79,734,995 shares in the company, valued at approximately $9,909,465,178.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The disclosure for this sale can be found here. Insiders have sold a total of 4,277,403 shares of company stock valued at $512,029,184 over the last 90 days. 4.23% of the stock is owned by corporate 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.