White Wing Wealth Management Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

White Wing Wealth Management grew its position in NVIDIA Co. (NASDAQ:NVDA) by 913.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,479 shares of the computer hardware maker’s stock after buying an additional 12,149 shares during the period. NVIDIA accounts for approximately 1.3% of White Wing Wealth Management’s investment portfolio, making the stock its 14th largest position. White Wing Wealth Management’s holdings in NVIDIA were worth $1,665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hamilton Wealth LLC grew its stake in NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares in the last quarter. Brooklyn FI LLC boosted its stake in shares of NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after buying an additional 12 shares during the period. Curran Financial Partners LLC grew its position in shares of NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC increased its stake in shares of 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 buying an additional 12 shares during the period. Finally, M. Kraus & Co raised its holdings in NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the sale, the chief executive officer now owns 79,254,995 shares in the company, valued at $10,628,094,829.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,197,403 shares of company stock worth $501,955,984. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NVIDIA stock opened at $117.00 on Wednesday. The firm has a market capitalization of $2.88 trillion, a PE ratio of 68.42, a P/E/G ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The firm’s 50-day simple moving average is $115.72 and its 200 day simple moving average is $108.79. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

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

NVIDIA announced that its board has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

Analysts Set New Price Targets

Several research analysts have commented on NVDA shares. Barclays lowered their price target on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, June 10th. StockNews.com lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Evercore ISI upped their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Wedbush reissued an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Five equities 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.