Rice Hall James & Associates LLC Acquires 16,106 Shares of NVIDIA Co. (NASDAQ:NVDA)

Rice Hall James & Associates LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 890.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 17,915 shares of the computer hardware maker’s stock after purchasing an additional 16,106 shares during the period. Rice Hall James & Associates LLC’s holdings in NVIDIA were worth $2,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new position in NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the first quarter valued at approximately $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $134.80 on Monday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $118.54 and a 200-day moving average of $110.89. The firm has a market cap 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. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 during 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 for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its Board of Directors has approved a stock buyback program 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 programs are typically a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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 owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents 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 several research analyst reports. JPMorgan Chase & Co. upped their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Bank of America restated a “buy” rating and set a $165.00 target price on shares of NVIDIA in a research report on Thursday, September 5th. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Westpark Capital increased their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” 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 issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $142.46.

About NVIDIA

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.