Wealthgarden F.S. LLC Makes New $2.88 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Wealthgarden F.S. LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 23,319 shares of the computer hardware maker’s stock, valued at approximately $2,881,000. NVIDIA makes up approximately 3.0% of Wealthgarden F.S. LLC’s investment portfolio, making the stock its 4th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Skyline Advisors Inc. bought a new stake in shares of NVIDIA in the fourth quarter worth $415,000. M3 Advisory Group LLC bought a new stake in shares of NVIDIA in the fourth quarter worth $1,118,000. Accent Capital Management LLC bought a new stake in shares of NVIDIA in the fourth quarter worth $6,807,000. Warren Street Wealth Advisors LLC grew its holdings in shares of NVIDIA by 0.7% in the fourth quarter. Warren Street Wealth Advisors LLC now owns 2,759 shares of the computer hardware maker’s stock worth $1,366,000 after acquiring an additional 20 shares during the period. Finally, Fairman Group LLC bought a new stake in shares of NVIDIA in the fourth quarter worth $519,000. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on NVDA. Evercore ISI lifted their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Bank of America reissued a “buy” rating and set a $165.00 price target on shares of NVIDIA in a report on Thursday, September 5th. Westpark Capital boosted their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Benchmark reissued a “buy” rating and set a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.46.

NVIDIA Stock Down 4.7 %

Shares of NASDAQ:NVDA opened at $131.60 on Wednesday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The stock has a market cap of $3.24 trillion, a P/E ratio of 76.96, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. The business’s 50 day moving average is $119.84 and its 200 day moving average is $111.52. 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 announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Sell-side analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. 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 presently 2.34%.

NVIDIA declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $119.06, for a total transaction of $14,287,200.00. Following the completion of the sale, the chief executive officer now owns 78,414,995 shares in the company, valued at approximately $9,336,089,304.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $119.06, for a total value of $14,287,200.00. Following the sale, the chief executive officer now owns 78,414,995 shares of the company’s stock, valued at approximately $9,336,089,304.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,116,270 shares of company stock valued at $362,016,327. 4.23% of the stock is currently owned by corporate insiders.

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.