NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Drive Wealth Management LLC

Drive Wealth Management LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 924.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,986 shares of the computer hardware maker’s stock after purchasing an additional 66,767 shares during the quarter. NVIDIA comprises about 2.5% of Drive Wealth Management LLC’s investment portfolio, making the stock its 7th largest holding. Drive Wealth Management LLC’s holdings in NVIDIA were worth $9,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of NVDA. Hamilton Wealth LLC lifted its position in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares during the last quarter. Brooklyn FI LLC boosted its position in shares of NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after purchasing an additional 12 shares in the last quarter. Curran Financial Partners LLC lifted its position in shares of NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after acquiring an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC boosted its position in NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares in the last quarter. Finally, M. Kraus & Co boosted its position in shares of NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after buying an additional 13 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now owns 8,420,117 shares in the company, valued at $1,021,107,588.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,277,403 shares of company stock worth $512,029,184. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.0 %

Shares of NVDA stock opened at $121.44 on Tuesday. The company has a market capitalization of $2.99 trillion, a P/E ratio of 71.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The business’s 50 day moving average is $115.83 and its two-hundred day moving average is $108.59.

NVIDIA (NASDAQ:NVDA) last posted its 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the business earned $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. Equities analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is 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 issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of analyst reports. Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Citigroup boosted their price target on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. DA Davidson restated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Finally, Mizuho raised their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating 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’s stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA 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.