NVIDIA Co. (NASDAQ:NVDA) Holdings Boosted by Waldron Private Wealth LLC

Waldron Private Wealth LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 898.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,318 shares of the computer hardware maker’s stock after purchasing an additional 196,445 shares during the period. NVIDIA makes up 1.2% of Waldron Private Wealth LLC’s portfolio, making the stock its 17th biggest position. Waldron Private Wealth LLC’s holdings in NVIDIA were worth $26,971,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mitchell Mcleod Pugh & Williams Inc. grew its stake in NVIDIA by 999.9% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 80,666 shares of the computer hardware maker’s stock valued at $9,966,000 after acquiring an additional 73,332 shares in the last quarter. Claro Advisors LLC boosted its holdings in shares of NVIDIA by 903.9% during the second quarter. Claro Advisors LLC now owns 101,911 shares of the computer hardware maker’s stock worth $12,590,000 after purchasing an additional 91,759 shares during the period. Summit Financial LLC grew its position in NVIDIA by 1,142.7% during the second quarter. Summit Financial LLC now owns 300,549 shares of the computer hardware maker’s stock valued at $37,130,000 after purchasing an additional 276,364 shares in the last quarter. Montag A & Associates Inc. increased its stake in NVIDIA by 911.5% in the 2nd quarter. Montag A & Associates Inc. now owns 154,287 shares of the computer hardware maker’s stock valued at $19,061,000 after buying an additional 139,034 shares during the period. Finally, Palisades Hudson Asset Management L.P. lifted its position in NVIDIA by 791.6% in the 2nd quarter. Palisades Hudson Asset Management L.P. now owns 29,850 shares of the computer hardware maker’s stock worth $3,687,000 after buying an additional 26,502 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $124.28, for a total transaction of $14,913,600.00. Following the sale, the chief executive officer now directly owns 79,734,995 shares in the company, valued at $9,909,465,178.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was 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 directly owns 79,734,995 shares in the company, valued at approximately $9,909,465,178.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the transaction, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,277,403 shares of company stock worth $512,029,184. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $121.44 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market cap of $2.99 trillion, a price-to-earnings ratio of 71.02, a P/E/G ratio of 1.05 and a beta of 1.67. The stock’s fifty day moving average price is $115.83 and its two-hundred day moving average price is $108.59. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76.

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

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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 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 presently 2.34%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NVDA shares. Barclays dropped their target price on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Craig Hallum increased their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Evercore ISI raised their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Argus boosted their target price on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Wedbush restated an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.