Lederer & Associates Investment Counsel CA Buys 48,008 Shares of NVIDIA Co. (NASDAQ:NVDA)

Lederer & Associates Investment Counsel CA lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 766.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,275 shares of the computer hardware maker’s stock after buying an additional 48,008 shares during the period. NVIDIA makes up approximately 4.9% of Lederer & Associates Investment Counsel CA’s investment portfolio, making the stock its 3rd biggest holding. Lederer & Associates Investment Counsel CA’s holdings in NVIDIA were worth $6,705,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVDA. Fortis Capital Advisors LLC raised its stake in NVIDIA by 904.5% in the 2nd quarter. Fortis Capital Advisors LLC now owns 220,316 shares of the computer hardware maker’s stock worth $27,218,000 after acquiring an additional 198,383 shares during the last quarter. Cozad Asset Management Inc. increased its holdings in shares of NVIDIA by 695.7% in the second quarter. Cozad Asset Management Inc. now owns 237,939 shares of the computer hardware maker’s stock valued at $29,395,000 after purchasing an additional 208,036 shares during the period. Mascoma Wealth Management LLC raised its stake in shares of NVIDIA by 934.7% in the second quarter. Mascoma Wealth Management LLC now owns 5,670 shares of the computer hardware maker’s stock worth $700,000 after purchasing an additional 5,122 shares during the last quarter. First National Trust Co lifted its holdings in shares of NVIDIA by 899.4% during the second quarter. First National Trust Co now owns 653,968 shares of the computer hardware maker’s stock worth $80,791,000 after purchasing an additional 588,530 shares during the period. Finally, Aveo Capital Partners LLC boosted its position in NVIDIA by 810.7% in the second quarter. Aveo Capital Partners LLC now owns 44,814 shares of the computer hardware maker’s stock valued at $5,536,000 after buying an additional 39,893 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In related 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 value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $128.60, for a total value of $15,432,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,494,995 shares of the company’s stock, valued at approximately $10,223,056,357. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,077,403 shares of company stock worth $486,699,184. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Benchmark reissued a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. UBS Group upped their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 8th. Westpark Capital lifted their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $135.00 price objective on shares of NVIDIA in a report on Monday, August 19th. Finally, William Blair began coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Up 1.7 %

NASDAQ NVDA opened at $124.92 on Friday. The firm has a market cap of $3.07 trillion, a PE ratio of 73.05, 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 business’s fifty day simple moving average is $116.26 and its 200-day simple moving average is $109.21. 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 issued its quarterly earnings data 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. The firm had revenue of $30.04 billion for 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 revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. As a group, equities analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date was 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%.

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.