Rice Partnership LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Rice Partnership LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 911.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188,016 shares of the computer hardware maker’s stock after purchasing an additional 169,419 shares during the quarter. NVIDIA accounts for approximately 5.0% of Rice Partnership LLC’s investment portfolio, making the stock its 5th largest position. Rice Partnership LLC’s holdings in NVIDIA were worth $23,228,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the 1st quarter valued at approximately $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the 1st quarter worth approximately $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 1.6 %

Shares of NASDAQ NVDA opened at $118.85 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock has a market capitalization of $2.92 trillion, a P/E ratio of 69.50, a P/E/G ratio of 1.05 and a beta of 1.67. The company has a 50-day moving average price of $115.81 and a 200-day moving average price of $108.86.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. On average, equities research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

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

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research analyst reports. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Tuesday, August 6th. Westpark Capital upped their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Sanford C. Bernstein lifted their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price target on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Barclays cut their target price on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. 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 company’s stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at the SEC website. Also, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at $512,509,435. The disclosure for this sale can be found here. Insiders sold a total of 4,197,403 shares of company stock worth $501,955,984 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

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.