PrairieView Partners LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

PrairieView Partners LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,114.7% in the second quarter, HoldingsChannel reports. The firm owned 4,713 shares of the computer hardware maker’s stock after buying an additional 4,325 shares during the quarter. PrairieView Partners LLC’s holdings in NVIDIA were worth $582,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NVDA. Aveo Capital Partners LLC boosted 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 worth $1,164,000 after purchasing an additional 549 shares in the last quarter. Gryphon Financial Partners LLC grew its position in NVIDIA by 60.9% in 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 during the period. Carolinas Wealth Consulting LLC lifted its holdings in NVIDIA by 4.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 3,557 shares of the computer hardware maker’s stock valued at $1,761,000 after acquiring an additional 138 shares during the period. California State Teachers Retirement System grew its position in NVIDIA by 1.4% during the fourth quarter. California State Teachers Retirement System now owns 3,948,536 shares of the computer hardware maker’s stock valued at $1,955,394,000 after buying an additional 53,615 shares during the period. Finally, APG Asset Management US Inc. bought a new position in NVIDIA in the 4th quarter worth $181,116,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 3.7 %

NASDAQ NVDA opened at $117.00 on Wednesday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a market cap of $2.88 trillion, a P/E ratio of 68.42, a P/E/G ratio of 1.05 and a beta of 1.67. The business has a fifty day moving average price of $115.72 and a 200 day moving average price of $108.79. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm 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%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its board has approved a share buyback 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 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%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’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 sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,197,403 shares of company stock valued at $501,955,984. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVDA. Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Wells Fargo & Company boosted their price objective on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Raymond James increased their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Westpark Capital raised their price target 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. Finally, Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.