Squire Investment Management Company LLC Acquires 2,059 Shares of NVIDIA Co. (NASDAQ:NVDA)

Squire Investment Management Company LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 700.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,353 shares of the computer hardware maker’s stock after purchasing an additional 2,059 shares during the quarter. Squire Investment Management Company LLC’s holdings in NVIDIA were worth $291,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Waterfront Wealth Inc. raised its position in shares of NVIDIA by 530.8% during the 2nd quarter. Waterfront Wealth Inc. now owns 5,160 shares of the computer hardware maker’s stock valued at $637,000 after buying an additional 4,342 shares in the last quarter. Telos Capital Management Inc. grew its holdings in NVIDIA by 853.7% during the 2nd quarter. Telos Capital Management Inc. now owns 39,503 shares of the computer hardware maker’s stock valued at $4,880,000 after purchasing an additional 35,361 shares during the last quarter. Fielder Capital Group LLC boosted its holdings in NVIDIA by 911.2% during the 2nd quarter. Fielder Capital Group LLC now owns 46,527 shares of the computer hardware maker’s stock valued at $5,748,000 after acquiring an additional 41,926 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in NVIDIA by 769.6% in the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,044,221 shares of the computer hardware maker’s stock valued at $129,003,000 after acquiring an additional 924,138 shares during the last quarter. Finally, Privium Fund Management B.V. increased its stake in NVIDIA by 850.0% in the second quarter. Privium Fund Management B.V. now owns 57,000 shares of the computer hardware maker’s stock worth $6,992,000 after purchasing an additional 51,000 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 0.0 %

Shares of NVIDIA stock opened at $121.44 on Tuesday. The firm has a 50-day simple moving average of $115.83 and a two-hundred day simple moving average of $108.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a market cap 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.

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

NVIDIA Cuts Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NVDA shares. Susquehanna boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Evercore ISI upped their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Barclays cut their price objective on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 10th. Finally, Melius Research increased their target price on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $142.10.

Insider Activity at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s 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 transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 79,734,995 shares of the company’s stock, valued at approximately $9,909,465,178.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s 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 directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,277,403 shares of company stock valued at $512,029,184. Corporate insiders own 4.23% of the company’s stock.

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.