Bright Futures Wealth Management LLC. Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Bright Futures Wealth Management LLC. lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,681 shares of the computer hardware maker’s stock after purchasing an additional 126 shares during the period. NVIDIA accounts for approximately 0.9% of Bright Futures Wealth Management LLC.’s holdings, making the stock its 25th largest position. Bright Futures Wealth Management LLC.’s holdings in NVIDIA were worth $1,937,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal London Asset Management Ltd. boosted its holdings in NVIDIA by 816.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 16,888,913 shares of the computer hardware maker’s stock worth $2,086,456,000 after buying an additional 15,045,404 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of NVIDIA by 872.4% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 484,723 shares of the computer hardware maker’s stock valued at $59,883,000 after purchasing an additional 434,875 shares during the last quarter. Invesco LLC boosted its holdings in shares of NVIDIA by 897.0% during the 2nd quarter. Invesco LLC now owns 34,475 shares of the computer hardware maker’s stock valued at $4,259,000 after purchasing an additional 31,017 shares during the last quarter. Global X Japan Co. Ltd. raised its position in shares of NVIDIA by 674.8% during the 2nd quarter. Global X Japan Co. Ltd. now owns 378,035 shares of the computer hardware maker’s stock valued at $46,702,000 after buying an additional 329,243 shares in the last quarter. Finally, LGT Fund Management Co Ltd. raised its position in shares of NVIDIA by 2,995.9% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 205,193 shares of the computer hardware maker’s stock valued at $25,776,000 after buying an additional 198,565 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, July 15th. The stock was sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the transaction, the chief executive officer now owns 78,894,995 shares in the company, valued at $10,171,142,755.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the completion of the sale, the chief executive officer now directly owns 78,894,995 shares in the company, valued at $10,171,142,755.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,356,270 shares of company stock worth $391,787,127 in the last three months. 4.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVDA. Wedbush restated an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. The Goldman Sachs Group increased their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC raised their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. KeyCorp raised their target price on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Robert W. Baird raised their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given 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 $142.46.

NVIDIA Stock Down 0.0 %

NVDA opened at $134.80 on Friday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company has a fifty day moving average of $118.54 and a two-hundred day moving average of $110.74. The stock has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

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.