NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Athena Investment Management

Athena Investment Management increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 875.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,661 shares of the computer hardware maker’s stock after acquiring an additional 4,183 shares during the quarter. Athena Investment Management’s holdings in NVIDIA were worth $576,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Able Wealth Management LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $32,000. Counterweight Ventures LLC acquired a new stake in NVIDIA during the fourth quarter worth approximately $3,520,000. Beaird Harris Wealth Management LLC raised its holdings in NVIDIA by 12.5% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 1,505 shares of the computer hardware maker’s stock worth $745,000 after purchasing an additional 167 shares in the last quarter. Abel Hall LLC acquired a new stake in NVIDIA during the fourth quarter worth approximately $1,413,000. Finally, EP Wealth Advisors LLC raised its holdings in NVIDIA by 3.1% during the fourth quarter. EP Wealth Advisors LLC now owns 79,136 shares of the computer hardware maker’s stock worth $39,190,000 after purchasing an additional 2,379 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. 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. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $119.17, for a total transaction of $14,300,400.00. Following the sale, the chief executive officer now directly owns 78,654,995 shares in the company, valued at approximately $9,373,315,754.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,236,270 shares of company stock worth $376,316,727. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent research reports. Citigroup lifted their target price on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Evercore ISI upped their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird increased their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, HSBC upped their target price on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. 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, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $142.46.

NVIDIA Trading Down 0.0 %

Shares of NVIDIA stock opened at $134.80 on Monday. The company has a fifty day moving average of $118.54 and a 200 day moving average of $110.89. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a market capitalization of $3.31 trillion, a P/E ratio of 63.23, a P/E/G ratio of 1.20 and a beta of 1.67. 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 posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company 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%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid 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 1.88%.

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.